Minoo Company is a distributor of Mens wear fabric. The company had outstanding accounts receivable on December 31, 2019 as follows: Minoo Company Schedule of Accounts Receivable by Age December 31, 2019 Total $ Customer name Not yet due 1 - 30 days 31 - 60 past due days past due 61 - 90 days past due Over 90 days past due Amrinderjit $45,000 $45,000 Arshdeep 24,000 $11,000 $13,000 Rohit 81,000 $60,000 21,000 Jatinder 40.000 40,000 Jasleen 7,500 $7,500 Edwin 27.500 15,000 12.500 1% 5% 10% 25% 50% % uncollectibl e During the year 2019, Minoo Company had sales of $1,860,000 of which $19,000 were cash sales. The Allowance for Doubtful Accounts had an unadjusted debit balance on December 31, 2019 of $1.525 REQUIRED Prepare the adjusting entry to estimate uncollectible accounts on December 31, 2019, under each of the following independent assumptions. You must show and hand in all your calculations and work a. Bad debts are estimated to be 0.5% of credit sales b. Bad debts are estimated to be 5% of outstanding accounts receivable c. Bad debts are based on an aging analysis