DO IT! 8.2 | Uncollectible Accounts Receivable The following information for Zhang Wholesalers Co.'s accounts receivable is available at December 31. Zhang Wholesalers uses the percentage of receivables approach for estimating uncollectible accounts. Number of Days Outstanding Accounts Receivable 0-30 days 31-60 days $ 85,000 25,000 Over 60 days Total 10,000 $120,000 Estimated Percentage Uncollectible 5% 15% 25% a. Calculate the estimated uncollectible accounts and the carrying amount of Zhang's accounts receivable at December 31. b. Prepare the adjusting journal entry to record bad debt expense for each of the following independent situations: 1. The Allowance for Doubtful Accounts has an unadjusted $2,000 credit balance. 2. The Allowance for Doubtful Accounts has an unadjusted $1,200 debit balance. c. Prepare the required journal entry if Zhang learns that its $1,500 receivable from Rutger Retailers is not collectible. d. Prepare the required journal entries if Zhang subsequently collects the $1,500 receivable from Rutger Retailers that was previously written off. e. Assume instead that Zhang uses the percentage of sales approach to estimate uncollectible accounts and management concludes that 1% of net credit sales should be used. Net credit sales are $800,000 for the period ended December 31 and the Allowance for Doubtful Accounts has an unadjusted credit balance of $2,000. Calculate the bad debt expense and the carrying amount of Zhang's accounts receivable at December 31