LO 5 Part 1 of 3 0.5 points eBook Print References Required information [The following information applies to the questions displayed below.] Blue Skies Equipment Company uses the aging approach to estimate bad debt expense at the end of each accounting year. Credit sales occur frequently on terms n/60. The balance of each account receivable is aged on the basis of three time periods as follows: (1) not yet due, (2) up to one year past due, and (3) more than one year past due. Experience has shown that for each age group, the average loss rate on the amount of the receivable at year-end due to uncollectibility is (a) 3 percent, (b) 10 percent, and (c) 29 percent, respectively. At December 31, 2022 (end of the current accounting year), the Accounts Receivable balance was $51,600 and the Allowance for Doubtful Accounts balance was $1,000 (credit). In determining which accounts have been paid, the company applies collections to the oldest sales first. To simplify, only five customer accounts are used; the details of each on December 31, 2022, follow: B. Brown-Account Receivable Date Explanation Debit Credit 03/11/2021 Sale 14,800 06/30/2021 Collection 01/31/2022 Collection Balance 14,800 4,300 10,500 3,300 7,200 D. Donalds-Account Receivable Explanation Debit Credit 02/28/2022 Sale Date Balance 21,200 21,200 04/15/2022 Collection 7,300 13,900 5,400 8,500 11/30/2022 Collection N. Napier-Account Receivable Date Explanation Debit Credit 11/30/2022 Sale 9,800 12/15/2022 Collection Balance 9,800 2,300 7,500 Date S. Strothers-Account Receivable Explanation Debit Credit Balance 03/02/2020 Sale 4,900 4,900 04/15/2020 Collection 4,900 0 09/01/2021 Sale 10,400 10,400 10/15/2021 Collection 3,800 6,600 02/01/2022 Sale 21,500 28,100 03/01/2022 Collection 8,000 20,100 12/31/2022 Sale 2,800 22,900 T. Thomas-Account Receivable Explanation Debit Credit 5,500 Date 12/30/2022 Sale Balance 5,500 Required: 1. Compute the total accounts receivable in each age category. 2. Compute the estimated uncollectible amount for each age category and in total. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the total accounts receivable in each age category. Age Not yet due Up to one year past due Amount More than one year past due Total accounts receivable $ 0 < Required 1 Required 2 >