Coffeldt Sign Company uses the allowance method in accounting for uncollectible accounts. Past experience indicates that 4% of accounts receivable will eventually be uncollectible. Selected account balances at December 31, 2019, and December 31, 2020, appear below: Net Credit Sales Accounts Receivable 12/31/19 $400,000 12/31/20 $450,000 5,000 150,000 200,000 ? Allowance for Doubtful Accounts Instructions (a) Record the following events in 2020. (10 marks) Aug. 10 Sept. 12 Oct. 10 Nov. 15 Nov. 16 Determined that the account of Sue Lang for $1,000 is uncollectible. Determined that the account of Tom Woods for $4,000 is uncollectible. Received a check for $550 as payment on account from Sue Lang, whose account had previously been written off as uncollectible. She indicated the remainder of her account would be paid in November. Received a check for $450 from Sue Lang as payment on her account. Sold $10,000 of its accounts receivables to a factor, which charges a 1% fee. (b) Prepare the adjusting journal entry to record the bad debt provision for the year ended December 31, 2020. (2 marks) (c) What is the balance of Allowance for Doubtful Accounts at December 31, 2020? (2 marks) (d) Calculate the accounts receivable turnover and the average collection period for accounts receivable in days for 2020. (6 marks)