I was wondering if you could help me with the analysis component in Exercise 8-10 Chapter 8 I. The book fundamental accounting principles.

Accumulated depreciation, building 110,000 29,000 lowance for doubtful accounts Bad debt expense.... Building. Cash. Merchandise i 2.350 hat the Aliowance 2,100 375.000 unts has a $1,950 14,000 Notes receivable, due May 1, 2014... Notes recelvable, due Nov. 30, 201 7 Supplies *Assume all balances are normal. 61,000 14,300 5.260 nt able account had nce for doubtful 017 gear. 10 Estimating bad debt expense-percentage of sales LO3 and Grouse Co. CK FIGURE: d. Accounts receivable (net)-$232,700 justed account balances at December 31, 2017, are shown below for Demron Servicing. Account Debit Credit Accounts receivable Allowance for doubtful accounts Sales (all on credit) Sales discounts $70,000 $ 1,100 480,000 or doubt- 8,000 Required a. Demon estimates that 1.5% of net credit sales will prove to be uncollectible. Prepare the adjusting entry required on December 31, 2017, to estimate uncollectible receivables. 16 b. During 2018, credit sales were $620,000 (cost of sales $406,500); sales discounts of $12,000 were taken when accounts receivable of $440,000 were collected; and accounts written off during the year totalled $10,000. Prepare the entries for these transactions. c. Record the adjusting entry required on December 31, 2018, to estimate uncollectible receivables, assuming it is based on 1.5% of net credit sales. d. Show ho w accounts receivable would appear on the December 31, 2018, balance sheet. lated the advantages and disadvantages of using the income statement ap- proach for estimating uncollectibles