Kimmel, Financial Accounting, 8e Help I System Announcements CALCULATOR | | pRINTER VER Problem 8-1A Flint Corporation 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 on the below information. Number of Days Outstanding Total 0-30 61-909 31-60 61-90 91 120 $18,000 Over 120 Accounts Receivable $537,000 $376,000 $85,000 $48,000 $10,000 % uncollectible 196 4% 5% 9% 11% Estimated bad debts SHOW LIST OF ACCOUNTS LINK TO TEXT VIDEO: SIMILAR PROBLEM Prepare the year-end adjusting journal entry to record the bad debts using the aged uncollectible accounts receivable determined in above. Assume the unadjusted balar 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 IMG3912.JPG ^ IMG3911.JPG