inment CALCULATOR PRINTER VERSION 4 BACK NE Question 2 Sheffield Corp. uses the allowance method of accounting for bad debts. The company produced the following aging of the accounts receivable at year-end. Calculate the total estimated bad debts based on the information below. Accounts receivable Total $408,000 0-30 $246,000 Number of Days Outstanding 31-60 61-90 91-120 $90,000 $42,000 $17,000 Over 120 $13,000 % uncollectible 1% 4% 5% 8% 11% Estimated bad debts $ $ $ $ LINK TO TEXT LINK TO VIDEO Prepare the year-end adjusting journal entry to record the bad debts using the aged uncollectible accounts receivable determined above. Assume the unadjusted balance in Allowance for Doubtful Accounts is a $3,700 debit. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit JS Kete skytem Acino Arcementing. Se Help System Announcements Icre - gnment CALCULATOR PRINTER VERSION BACK NEXT cro 10-C Prepare the year-end adjusting journal entry to record the bad debts using the aged uncollectible accounts receivable determined above. Assume the unadjusted balance in Allowance for Doubtful Accounts is a $3,700 debit. (Credit account titles are automatically Indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Scre 0-0. LINK TO TEXT LINK TO VIDEO Scree 0-0 or the above accounts, $5,500 is determined to be specifically uncollectible. Prepare the journal entry to write off the uncollectible account. (Credit account titles are automatically Indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Screer 0-07. LINK TO TEXT LINK TO VIDEO The company.collected account that badoo Bandeterminada ollectiblattuale Return to Blackboard Help System Announcements creen 2-05 ment CALCULATOR PRINTER VERSION BACK NEXT Screen Screen LINK TO TEXT LINK TO VIDEO The company collects $5,500 subsequently on a specific account that had previously been determined to be uncollectible in part (c). Prepare the journal entries necessary to (1) restore the account and (2) record the cash collection. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit Screen 0-03 2. Screen 0-07... LINK TO TEXT LINK TO VIDEO Question Attempts: 0 of 5 used