Chapter 8 (6 marks, 12 minutes) Derulo Ltd. prepares an aging schedule for its accounts receivable at each month end and records bad debts expense monthly. At the end of October 2020, the company prepares the following aging schedule: Estimated Accounts percentage Number of outstanding days receivable uncollectible 0-30 days (current receivables) $ 350,000 31-60 days 80,000 61-90 days 65,000 Over 90 days 20,000 20% Total receivables $ 515.000 2% 4% 10% Given the above information: A. Calculate the total estimated uncollectible accounts. (0.5 marks) B. Prepare the adjusting journal entry to record bad debts if the unadjusted balance in the Allowance for Doubtful Accounts is a credit balance of $6,200. (2 marks) C. Prepare the adjusting journal entry to record bad debts if the unadjusted balance in the Allowance for Doubtful Accounts is a debit balance of $6,200. (2 marks) D. On November 15, 2020, Derulo determined that one of its customers owing $7,200 declared bankruptcy and consequently, the account was uncollectible. Prepare the journal entry to write off the uncollectible account. (1.5 marks) TT TT Paragraph Arial 3 (12pt) E. T