Jarden company has credit sales of $2900000 for year 2017. On December 31, 2017, The companys allowance for doubtful accohnrs has an unadjusted credir bapance of $20,639. Jarden prepares a schedule of its december 31,201), accounts receivable by age. On the basis of past experience, it estimares the percent of receivables in each age category that will become uncollectible.

1. Estimate the required balmce of the allowance for doubtful acounts at December 31, 2017, using the aginf of accounrs receivable method

2.Prepare the adjusting entry to record bad debts expense at December 31, 2017

equired information The following information applies to the questions displayed below.] Jarden Company has credit sales of $2,900,000 for year 2017. On Dece Doubtful Accounts has an unadjusted credit balance of $20,639. Jarden accounts receivable by age. On the basis of past experience, it estimates that will become uncollectible. This information is summarized here. Expected Percent Uncollectible 1.15% 1.90 December 31, 2017 Age of Accounts Receivable Accounts Receivable $580,000 Not yet due 232,000 1 to 30 days past due 31 to 60 days past 46,400 due 61 to 90 days past 23,200 due Over 90 days past 4,640 due 6.40 32.25 67.00 Journal entry worksheet Record the estimated bad debts. Note: Enter debits before credits. General Journal Debit Credit Date Dec 31 4,640 67. due Required: 1. Estimate the required balance of the Allowance for Doubtful Accounts at Decemb method. Estimated Uncollectible Accounts Percent Receivable Uncollectible (#.##%) Not due 1 to 30: 31 to 60 61 to 90: Over 90 Estimated balance of allowance for uncollectibles