Allarco Inc. showed the following account balances at December 31, 2015: Accounts receivable, $347,500; Allowance for doubtful accounts, $1,400; Sales (all on credit), $1,000,000; Sales discounts $21,500. During 2016, credit sales were $1,100,000; sales discounts taken were $18,000; accounts receivable collected were $1,018,000; and accounts written off during the year totalled $47,000. Assume that Allarco Inc. uses an aging anaysis to estimated uncollectible receivables as shown below. Enter an appropriate description when entering the transactions in the journal. Dates must be entered in the format dd/mmm (ie. January 15 would be 15/Jan). T-Accounts have been provided for your calculations, but will not be marked. Age of Accounts Receivable Not due (under 30 days) 1 to 30 days past due December 31, 2015 | December 31, 2016 Expected Percentage Accounts Receivable Accounts Receivable 258,000 64,000 30 to 60 days past due 21,000 Over 60 days past due 4,500 278,000 82,000 18,000 4,500 Uncollectible 1% 4% 10% 60% a) Prepare the adjusting entry required on Dec. 31, 2015 to estimate uncollectible receivables based on the aging analysis above. Please make sure your final answer(s) are accurate to 2 decimal places. Date General Journal Account/Explanation Page G1 PR Debit Credit Accounts receivable Allowance for doubtful accounts 2015 b) Prepare the adjusting entry required on Dec. 31, 2016 to estimate uncollectible receivables based on the aging analysis above. Please make sure your final answer(s) are accurate to 2 decimal places. Date 2016 General Journal Account/Explanation Page G2 PR Debit Credit Accounts receivable Allowance for doubtful accounts c) Show how Accounts receivable would appear on the Dec. 31, 2016 balance sheet. Please make sure your final answer(s) are accurate to the nearest whole number. Assets Current assets