EN LES Exercise 8-13 Aging analysis 03 CHECK FIGURE: C. Accounts receivable (net) = $402,400 Winfrey Designs had an unadjusted credit balance in its Allowance for Doubtful Accounts at December 31, 2020, of $2.300 Required a. Prepare the adjusting entry assuming that Winfrey estimates uncollectible accounts based on an aging analysis as follows: December 31, 2020 Accounts Receivable Age of Accounts Receivable Expected Percentage L'acollectible $155,000 Not due (under 30 days) 1% 45.000 I to 30 days past due 4% 10.500 31 to 60 days past due 10% 2.500 Over 60 days past due 60% b. During 2021. credit sales were $1.457.000, sales discounts taken were $27.000. accounts receivable collected were $1,220,000, and accounts written off during the year totalled S29,000. Prepare the adjusting entry required on December 31, 2021, to estimate uncollectible receivables assuming it is based on the following aging analysis December 31, 2021 Accounts Receivable Age of Accounts Receivable Expected Percentage Uncollectible S290,000 Not due (under 30 days) 1% 90,000 I to 10 days pust due 45 25,000 31 to 60 days past due 10% 16,000 Over 60 days past due 60% c. Show how accounts receivable would appear on the December 31, 2021. balance sheet S Analysis Component: Comment on the advantages and disadvantages of using an aging analysis for estimating uncollectible accounts Exercise 8-14 Direct write-off method 2 03 Page 1 Delores Cooper operates Cooper Garden Designs. Most of her customer y cash ose uses the direct write-off method to account for wa BE