Larkspur Merchandising uses an aging schedule to determine its estimated uncollectible accounts at year end. The percentage estimates of bad debts are as follows: LARKSPUR MERCHANDISING Aged Schedule of Accounts Receivable No. of Days Estimated % Outstanding Amount Uncollectible 0-30 days $61,300 0.50% 31-60 days 26,100 4.60% 61-90 days 12.000 22.00% Over 90 days 4,700 48.00% $104,100 Using the information above for Manoir Merchandising prepare the adjusting entry to record bad debt expense for each of the following independent situations: The Allowance for Doubtful Accounts has an unadjusted $1.910 debit balance and the company uses the aging schedule to determine estimated uncollectible accounts. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round answers to 2 decimal places, eg. 52.76.) LARKSPUR MERCHANDISING Aged Schedule of Accounts Receivable Number of Days Outstanding Estimated % Uncollectible Estimated Uncollectible Accounts Amount 0-30 days $61,300 0.50% $ 31-60 days 26,100 4.60% 61-90 days 12,000 22.00% Over 90 days 4,700 48.00% $104,100 $ Date Account Titles and Explanation Debit Credit Dec 31 The Allowance for Doubtful Accounts has an unadjusted $1,910 credit balance and the company uses the aging schedule to determine estimated uncollectible accounts. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round answers to 2 decimal places, e.g. 52.76.) Date Account Titles and Explanation Debit Credit Dec 31 The Allowance for Doubtful Accounts has an unadjusted $1.910 debit balance and management estimates that 7% of accounts receivable will be uncollectible. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec 31