Exercise 8-13 Aging analysis LO3 Winfrey Designs had an unadjusted credit balance in its Allowance for Doubtful Accounts at December 31, 2020, of $2,500, Required: a. Prepare the adjusting entry assuming that Winfrey estimates uncollectible accounts based on an aging analysis as follows. December 31, 2020 Accounts Receivable $169,000 49,000 Expected Percentage Uncollectible 1% Age of Accounts Receivable Not due (under 30 days) 1 to 30 days past due 31 to 60 days past due Over 60 days past due 4% 11, 500 2,700 10% 60% View transaction list b. During 2021, credit sales were $1,557,000; sales discounts taken were $29,000; accounts receivable collected were $1,307,200; and accounts written off during the year totalled $31,000. 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 Expected Percentage Uncollectible 1% $310,000 96,000 Age of Accounts Receivable Not due (under 30 days) 1 to 30 days past due 31 to 60 days past due Over 60 days past due 4% 27,000 10% 18,000 60% 20 points eBook References c. Show how accounts receivable would appear on the December 31, 2021, balance sheet. Partial Balance sheet Assets Current assets