Bank of City is a local community bank. The credit department estimates the impairment loss of loan receivables by using statement of frumutal position approach. On 31 Dec 2021, an agingschedule of louns receivable was produced under the following five groups i Amount lays loan Outstanding Est. % of Uncollectible 250,000,000 Current 1-30 days past due 50,000,000 31-60 days past due 30,000,000 61-90 days past due > 90 days past due 342,000,000 End of November bulunce of Allowance of Impairment account was $2,000,000 Cr. Required! 1% 2% S% 10%. 10,000,000 2000,000 50% (as Compute the estimated amount of uncollectible loan accounts. (6) Prepare adjusting journal entry at the year-oud to record the estimated impairment loss on loan receivables. (1) On 7 March 2012, a past due loan of $380,000 which had been written off in received in full. Prepare the journal entries to record the recovery of loan receivable, Dec 2011, was