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II. (14 points) SAP Co.'s allowance for doubtful accounts had a credit balance of $48,000 on 1/1/2021. During the year 2021, the company wrote off

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II. (14 points) SAP Co.'s allowance for doubtful accounts had a credit balance of $48,000 on 1/1/2021. During the year 2021, the company wrote off $29.000 in uncollectible accounts. In addition, they collected $4,000 which had been written off previously as uncollectible in 2021. On 12/31/2021, an aging analysis of the accounts receivable revealed the following: Age AVR amount Estimated % Uncollectible 0-30 Days 360,000 2% 31-60 Days 120,000 61-90 Days 96.000 20% >90 Days 42.000 50% Total 324,000 10% i. Given the information above, please prepare the journal entry on December 31, 2021 to accrue for bad debt expense assuming that SAP Co. uses the percent of receivables approach. Show your calculation process please ii On 3/1/2022, a $2,800 account that was previously written off was paid in full by the customer. Please provide the journal entries to record the transaction

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