Kibul Company submitted the following 2021 information re: its accounts receivable: A/R balance, 1/1/21 $85,000 Allowance for Doubtful Accounts (ADA) balance, 1/1/21 o 2021 sales on account $1,400,000 2021 cash collected on account 1,300,000 . 2021 write-offs 2020 recoveries $40,000 2,500 $6,000 INSTRUCTIONS A. Journalize the above transactions and post to A/R and ADA T accounts. B. Complete the aging analysis below, as of 12/31/21, and prepare an adjusting journal entry to record bad debt expense at 12/31/21. Age of Account A/R Balance Estimated Uncollectible % 0-30 days $90,000 2% 31-60 days 25,000 10% 61-90 days 20,000 25% Over 90 days ? 60% TOTALS (refer to A/R T account)