Assume for questions 7 to 9 that the aging of accounts receivable method is used to estimate bad debts expense. You prepare the following analysis of aged accounts receivable at the end of the fiscal years, 2020 and 2021. (Hint: use T-accounts to keep track of the various details.) Total Analysis of Aged Accounts Receivable Not Yet Past Due Due 1- 60 Over 60 Current days days Accounts receivable, $18,400 $4,700 $1,600 9/30/2020 Accounts receivable, 24,300 5,600 2,000 9/30/2021 Estimated % uncollectible 10% 40% 75% $24.700 $31,900 1 Based on your analysis of aged accounts receivable, what should be the balance of the allowance for doubtful accounts at September 30, 2020? O A $4,920. O B. $6.170. 0 C. $11,090. O D. $770. E None of the other amounts. The journal entry to record the estimated bad debts expense for 2021 should include: O A. A debit to bad debts expense for $770. O B. A credit to allowance for doubtful accounts for $5,690. O C. A debit to bad debts expense for $1,250. OD. A debit to bad debts expense for $6,650. Which of the following statements is incorrect when arguing in favour of using the aging of accounts receivable method instead of the percentage of credit sales method? A. The aging of accounts receivable method generally results in a more accurate valuation of the net accounts receivable on the statement of financial position. o B. The aging of accounts receivable method matches bad debts expense with credit sales in the same period. C. The aging of accounts receivable method takes into account past experience by adjusting for previous under-or overstatement of the allowance account. o D. The aging of accounts receivable method is more difficult to implement than the percentage of credit sales method