1. Glanding Co. uses the balance sheet approach in estimating uncollectible accounts expense. Its Allowance for Doubtful Accounts has a 1,200 credit balance prior to adjusting entries. It has just completed an aging analysis of accounts receivable at 31 December 2019. This analysis disclosed the following information:

Age Percentage

Group Considered

Total Uncollectible

Not yet due 53,000 1 %

1-30 days past due 31,000 2 %

31-60 past due 14,000 8 %

1. Using the table above, calculate the appropriate balance for Glanding's Allowance for Doubtful Accounts at 31 December 2019. (5 points)

2. Prepare the year-end adjusting entry for uncollectible accounts. (5 points)

	General Journal
Date	Account Titles and Explanation	Debit	Credit