a. Tot. est.b Instructions a. Calculate the total estimated bad debts based on the information provided. b. Prepare the year-end adjusting journal entry to record the bad debts using the aged uncollectible accounts receivable determined in (a). Assume the current balance in Allowance for Doubtful Accounts is a $8,000 debit. c. Of the above accounts, $5,000 is determined to be specifically uncollectible. Prepare the journal entry to write off the uncollectible account. d. The company collects $5,000 subsequently on a specific account that had previously been deter mined to be uncollectible in (c). Prepare the journal entry(ies) necessary to restore the account and record the cash collection. e. Comment on how your answers to (a)-(d) would change if Rigney Inc. used 4% of total accounts receivable rather than aging the accounts receivable. What are the advantages to the company of aging the accounts receivable rather than applying a percentage to total accounts receivable? 100 ill i f Dub omni contained the female ated to bad P9.4A (LO2) Writing Rigney Inc. uses the allowance method to estima receivable. The company produced the following aging of the accounts receivable at yede ceivable at year-end. lowance method to estimate uncollectible accounts Home Tmert Worksheet Data Review Page Layout Formulas View BC WN- 0-30 77,000 D E F Number of Days Outstanding 31-60 61-90 91-120 Over 120 46,000 39,000 23,000 15,000 4% 5% 8% 20% 4 5 6 Total Accounts receivable 200,000 % uncollectible Estimated bad debts 1%