Katelyn Fabricators uses the balance sheet approach to estimate uncollectible receivables. The aging of receivables on December 31, 2018 is shown in part a).

Katelyn Fabricators uses the balance sheet approach to estimate uncollectible receivables. The aging of receivables on December 31, 2018 is shown in part a). Required a) Calculate the required allowance for doubtful accounts. Do not enter dollar signs or commas in the input boxes. Round all answers to the nearest whole number. Under 30 days 1.0% $186,000 $ 31 - 60 days 4.0% $60,000 56 61 - 90 days 25.0% $15,000 56 More than 90 days 40.0% $5,000 56 Total $266,000 $ b] Prepare thejournal entry on December 31, 2018 to record bad debt expense assuming the allowance account has a $3,400 credit balance. Dec 31 A v To record estimated bad debt for the year Total $266,000 $ b) Prepare the journal entry on December 31, 2018 to record bad debt expense assuming the allowance account has a $3,400 credit balance. Date Account Title and Explanation Debit Credit Dec 31 To record estimated bad debt for the year c) Prepare the journal entry on December 31, 2018 to record bad debt expense assuming the allowance account has a $16,000 credit balance. Date Account Title and Explanation Debit Credit Dec 31 To record estimated bad debt for the year d) Prepare the journal entry on December 31, 2018 to record bad debt expense assuming the allowance account has a $2,200 debit balance. Date Account Title and Explanation Debit Credit Dec 31 + To record estimated bad debt for the year