Milo company prepared the following

Stoups Connectors 14-3A Sarita Bao, ACC102 SAT 10 w e ts, and show accounts receivable on the balance sheet stment Milo Company prepared the following aging schedule of its accounts receivable as of December 31, 20X2: Balance $23,000 30.000 Percent Estimated to Be Uncollectible 2% Age Category Not yet due 31-90 days past due 91-120 days past due 121-180 days past due 181-365 days past due Over one year past due 8.000 6.000 4.000 2,500 270 Directions: 1. Calculate the total for each age group and the total of the aging schedule. 2. Prepare a December 31, 20X2 adjusting entry for bad debts. The Allowance for Doubtful Accounts account has a credit balance of $600 prior to adjust ment, 3. Show how accounts receivable would appear on the balance sheet after the adjustment for bad debts is recorded. All folders are up to date. Connected to: Microsoft Exchange 2:54 PM 4/11/2020 15 16-4 Section D The following account balances are those of Bakers, Inc. on December 31, the end of the fiscal year before adjustments. Accounts Receivable $57,600 Allowance for Bad Debts $1,900 credit Credit Sales $350,000 Directions: Record the necessary adjusting entry to record Bad Debt Expense in each of the following independent cases. (20 points total) (a) Uncollectible accounts are estimated at 1% of credit sales. (b) An aging of the accounts receivable indicates that $3,600 will not be collected. (c) Assume the same facts as in (b), except that the balance in Allowance for Bad Debts is a $470 debit before adjustments. (d) Assume the same facts as in (a), except that the balance in Allowance for Bad Debts is a $350 debit before adjustments. GENERAL JOURNAL DATE DESCRIPTION ADJUSTING ENTRIES POST REF DEBIT CREDIT