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Can someone help Katelyn Fabricators uses the balance sheet approach to estimate uncollectible receivables. The aging of receivables on December 31, 2018 is shown in

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Katelyn Fabricators uses the balance sheet approach to estimate uncollectible receivables. The aging of receivables on December 31, 2018 is shown in part a). Required a) Calculate the required allowance for doubtful accounts. Do not enter dollar signs or commas in the input boxes. Round all answers to the nearest whole number Aging Category Bad Debt % Balance Required Allowance Under 30 days 1.0% $186,000 31 - 60 days 4.0% $60,000 61 - 90 days 25.0% $15,000 More than 90 days 40.0% $5,000 Total $266,000 $ b) Prepare the journal entry on December 31, 2018 to record bad debt expense assuming the allowance account has a $3,400 credit balance. Date Account Title and Explanation Debit Credit Dec 31 To record estimated bad debt for the year :) Prepare the joumal entry on December 31, 2018 to record bad debt expense assuming the allowance account has a $16,000 credit balance. Date Account Title and Explanation Debit Credit Dec 3 To record estimated bad debt for the year dj Prepare the journal entry on December 31, 2018 to record bad debt expense assuming the allowance account has a $2,200 debit balance. Date Account Title and Explanation Debit Credit Dec 31 To record estimated bad debt for the yearAccounts Payable Accounts Receivable Accumulated Depreciation Advertising Expense Allowance for Doubtful Accounts Bad Debt Expense Cash Notes Payable Notes Receivable Prepaid Insurance Prepaid Rent

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