Check my work 2 Sales and Aging of Accounts Receivable Methods [LO 8-2) 10 Innovative Techine. To has been using the percentage of credit sales method to estimate bad debts. During November, sold services on account for $140.000 and estimated that 3/4 of percent of those sales would be uncotectitle Required: 1. Prepare the November adjusting entry for bad debts 2. Starting in December I switched to using the aging method. At its December 31 year-end, total Accounts Receivables $86,600, aged as follows: (01-30 days old, 57100031-00 days old. $12.000 and 31 more than 90 days old, 53,600 The average rate of uncollectibility for each age group is estimated to be percent, 23 24 percent, and (3) 48 percent respectively. Prepare a schedule to estimate an appropriate year end balance for the lowance for Doubtful Accounts 3. Before the end of year adjusting entry is made, the Allowance for Doubtful Accounts has a $1400 credit balance at December 31. Prepare the December 31 acusting entry 4. Show how the various accounts related to accounts receivable should be shown on the December 31 balance sheet. Complete this question by entering your answers in the tabs below. Required 1 Recured Required) Requires Show how the various accounts related to accounts receivable should be shown on the December 31 balance sheet Innovative Tech Inc.) Balance that partial At December Acounts Receivable 5 1.600 Allowance for Dout Accounts 11728 Accounts Receivable, Net of Allowance ME Graw HII