Check my w Putnam & Putnam, a legal firm, uses the balance sheet approach to estimate uncollectible accounts expense. At year-end, an aging o the accounts receivable produced the following five groupings a. Not yet due b. 1-3e days past due c. 31-66 days past due d. 61-9e days past due e. Over 90 days past due $ 300,0ee 126,000 48,000 9,eee 18,0ee $501,9ee Total On the basis of past experience, the company estimated the percentages probably uncollectible for the five age groups to be as follows: Group a, 1 percent, Group b, 3 percent Group c. 10 percent Group d. 20 percent: and Group e, 50 percent The Allowance for Doubtful Accounts before adjustment at December 31 showed a credit balance of $7,080 Required a. Compute the estimated amount of uncollectible accounts based on the above classification by age groups. b. Prepare the adjusting entry needed to bring the Allowance for Doubtful Accounts to the proper amount c. Assume that on January 10 of the following year. Putnam & Putnam learned that an account receivable that had originated on September 1 in the amount of $5,160 was worthless because of the bankruptcy of the client, Safeland Co. Prepare the journal entry required on January 10 to write off this account Complete this question by entering your answers in the tabs below Required A Required B Required G Compute the estimated amount of uncollectible accounts based on the above classification by age groups AN here to search NG