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ABC Company's accountant had prepared the following schedule for its accounts receivable for its 2019 year-end: Accounts Receivable Category Amount Proportion expected to Default Not

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ABC Company's accountant had prepared the following schedule for its accounts receivable for its 2019 year-end: Accounts Receivable Category Amount Proportion expected to Default Not yet due S111,000 1% 1-30 days past due 45,000 3% 31-60 days past due 19,500 10% 61-90 days past due 4,500 20% Over 90days past due 7,500 50% Before adjusting entries are entered the pre-adjusted balance in the Allowance for Doubtfil Accounts at December 31 (year-end date) showed a debit balance of $2,700. Required: a. Based on the above information, the post adjustment balance in ABC's Allowance for Doubtful Accounts at December 31, 2019 should be (4 marks): b. Determine the bad debts expense for ABC for 2019 (2 marks): c. Assume that in January 2020, accounts receivable of $3,456 were written off as uncollectible and an accounts receivable of $468 that was previously written off in December 2019, was collected Give the necessary journal entries (4 marks). Debit Credit To write-off uncollectible accounts receivable To collect accounts receivable previously written off

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