Brighton, Inc. has been using the percentage of credit sales method to estimate bad debts. During November, Brighton, Inc. sold services on account for $150,000 and estimated that 3/4 of 1 percent of those sales would be uncollectible. Required: 1. Prepare the November adjusting entry for bad debts (using the percentage of sales method). 2. Starting in December, Brighton, Inc. switched to using the accounts receivable aging method. At its December 31 year-end, total Accounts Receivable is $83,300, aged as follows: (1) 130 days old, $68,000; (2) 31-90 days old, $12,000; (3) more than 90 days old, $3,300. The average rate of uncollectibility for each age group is estimated to be (1) 12 percent, (2) 24 percent, and (3) 48 percent, respectively. Prepare a schedule to estimate an appropriate year-end balance for the Allowance for Doubtful Accounts. 3. Before the end-of-year adjusting entry is made, the Allowance for has a $1,250 balar December Prepare the December adjusting entry for bad debts (using the aging of accounts receivable method). Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the November adjusting entry for bad debts (using the percentage of sales method). View transaction list Journal entry worksheet Record the adjusting entry for bad debts as of November 30. Note: Enter debits before credits. Date General Journal Debit Credit November 30 Required 1 Required 2 Required 3 Starting in December, Brighton, Inc switched to using the aging of accounts receivable method. At its December 31 year-end, total Accounts Receivable is $83,300, aged as follows: (1) 1-30 days old, $68,000; (2) 31-90 days old, $12,000; and (3) more than 90 days old, $3,300. The average rate of uncollectibility for each age group is estimated to be (1) 12 percent, (2) 24 percent, and (3) 48 percent, respectively. Prepare a schedule to estimate an appropriate year-end balance for the Allowance for Doubtful Accounts. Show less 1-30 31-90 > 90 Total Accounts Receivable Estimated Uncollectible (%) Estimated Uncollectible ($) % % % Before the end-of-year adjusting entry is made, the Allowance for Doubtful Accounts has a $1,250 credit balance at December 31. Prepare the December adjusting entry for bad debts (using the aging of accounts receivabe method). Show less View transaction list Journal entry worksheet Record the adjusting entry for bad debts as of December 31. Note: Enter debits before credits. Date General Journal Debit Credit December 31