Chapter Nine Review Accounting Fundamentals 2 Big Rock Brewery uses an aging of accounts receivable to estimate uncollectibles. For the 2014 year credit sales were $500,000. Accounts receivable had a balance of $48,250, while the allowance for doubtful accounts had a credit balance of S4,375. Complete the following schedule and prepare the journal entry to estimate uncollectibles. Total 10.30 Day 31-60 Day61-90 Days Over 90 Days 18.000 12.000 10.250 8.000 42 15 3% 20% 30% Amount of Receivable Percent Uncollectible Amount Uncollectible 1. Calculate the amount of the Allowance for Doubtful Accounts. 2. Prepare the journal entry to record 2014 bad debts expense. Date Account Debit Credit