ABC estimates potential uncollectable accounts receivables using Aging Accounts Receivable

approach the following is the analysis:

Customer

Total Not yet due Number of Days Past Due

$1-3031-6061-90$ Over $90$

K$.$ Brant

$$800$

$$600$$$200$

D$.$ Eaton

$500300$

$200$

$5$ Klein $550,150$

C$.$ Sheen $,{200}_{200}{?}_{?}$

Total $,2,{050}_{500}{?}_{,}{600}_{350}{?}_{200}{?}_{400}{?}_{?}$

$\%$ uncollectible $2\%,5\%,10\%,25\%,50\%$

At the beginning of the period, ABC had balances in Accounts Receivable of $$100,000$ and in

Allowance for Doubtful Accounts of $$56($credit$).$ Prepare a journal entry to record the above

estimate using the following Chart of Account.

Chart of Account

Account No$.$

Description

$1$

Cash

$2$

Sales Revenue

$3$

Accounts Receivable

$4$

Allowance for Doubtful Accounts

$5$

Bad Debt Expense

$6$

Sales Return and Allowance

$7$

Sales Discount

Enter the Account No$.$ and amount for the entry.