Huron Corporation (HC) operates in an industry which has a high rate of uncollectible accounts. You...

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Huron Corporation (HC) operates in an industry which has a high rate of uncollectible accounts. You have been provided with the following aged accounts receivable listing as at April 30, 2021: Amount Estimated % Days accounts outstanding uncollectible 0 - 30 days $600,000 5% 31-60 days 75,000 20% 61-90 days 90+ days 45,000 35% 30,000 50% $750,000 ' If the allowance for doubtful account has a credit balance of $37,500 before any adjustment required as at April 30, 2021, what is the required adjusting entry? (round all amounts to the nearest dollar) If the allowance for doubtful account has a debit balance of $37,500 before any adjustment required as at April 30, 2021 what is the required adjusting entry? Huron Corporation (HC) operates in an industry which has a high rate of uncollectible accounts. You have been provided with the following aged accounts receivable listing as at April 30, 2021: Amount Estimated % Days accounts outstanding uncollectible 0 - 30 days $600,000 5% 31-60 days 75,000 20% 61-90 days 90+ days 45,000 35% 30,000 50% $750,000 ' If the allowance for doubtful account has a credit balance of $37,500 before any adjustment required as at April 30, 2021, what is the required adjusting entry? (round all amounts to the nearest dollar) If the allowance for doubtful account has a debit balance of $37,500 before any adjustment required as at April 30, 2021 what is the required adjusting entry?