HW Problem 8.2 - Jute Company's accounts receivable has a year-end balance of $652,000 and its allowance for doubtful accounts has a $5,000 credit balance. Jute ages its accounts receivable and estimates uncollectible accounts as follows. A/R Age Balance Uncollectible Not due $300,000 1.00% 1-30 days past due $250,000 1.50% 31-60 days past due $60,000 10.00% 61-90 days past due $30,000 35.00% Over 90 days past due $12.000 70,00% $652,000 a. Record the journal entry to estimate bad debts at year-end b. Record the journal entry the next year when Boom Company goes bankrupt owing Jute $8,000