Im having trouble with aging accounts. We are supposed to use the balance sheet and income statement approach.

PROBLEM #3 P9-4C TIle f to estimate uncollectible accounts recei vable at year end. ollowing represents selected information taken from a company's aging schedule Eile Edit View Insert Format lools Data wlndow belp Number of Days Outstanding Total 0-3031-60 &61-90 260 91-120 ROver 120 5 I. % uncollectible Instructions (a) Calculate the total estimated bad debts based on the above information. (b) Prepare the year-end adjusting journal entry to record the bad debts using the allowance method and the aged uncollectible accounts receivable determined in (a). Assume the cur- rent balance in the Allowance for Doubtful Accounts account is a S10,000 credit. (c) Prepare the year-end adjusting entry assuming that the current bal ance on the Allowance for Doubtful Accounts is a $5,000 debit. PROBLEM H4 At December 31. 2007,Kofford Company had a balance of $23,000 in the Allowance for Doubtful Accounts. During 2008, Kofford wrote off accounts totaling $20,100. One of those accounts ($2,900) was later collected. Prepare Journal entries to record (1) the write-off of accounts receivable and (2) the recovery of accounts receivable. PROBLEM #5 E96B On December 31,2010, Merriman Co. estimated that 2% of its net sales of S600.000 will become uncollectible.The company recorded this amount as an addition to Allowance for Doubtful Accounts. On May 11, 2011, Merriman Co. determined that Larry Bird's account was uncollectible and wrote off $2,500. On June 12, 2011, Bird paid the amount previously written off Instructions Prepare the journal entries on December 31,2010, May 11,2011, and June 12,2011