Multiple Choice will be done online in D2L Quiz - don't forgel! Short answers and problems. In the space provided, answer the following questions. Be sure to show any comptations. If a statement is to be prepared, it should be prepared in good form. Point values are shown for each question 1. (11 points total) Lattice Company sells product to customers on open account. They use the allowance method and determine the balance required in the allowance for doubtful accounts by reviewing an aging of their accounts receivable. Following is an aging as of December 31, 2019. Complete each of the steps below. Point values are shown for each part. a. (5 points) Using this aging, compute the estimated amount of uncollectible accounts as of December 31, 2019. ***** Company Accounts Receivable Aging Summary As of Dec 31, 2019 Estimated % Uncollectible 1.5% 5.0% 7.0% Age of Accounts (days past due) 0 - 30 days 31 -60 days 61 - 90 days 91 - 180 days over 180 days Total accounts Account Totals 350,000.00 70,000.00 20,000.00 10,000.00 50,000.00 500,000.00 15.0% 50.0% The estimated total of the uncollectible accounts equals: b. (2 points) Write out the adjusting entry as of December 31, 2019. Assume that the Allo Doubtful Accounts has a credit balance of $4,000 at December 31, 2019 before adjustm c. (2 points) Write out the adjusting entry as of December 31, 2019. Assume that the Allowance for Doubtful Accounts has a debit balance of $800 at December 31, 2019 before adjustments. d. (2 points) On June 30, 2020, Lattice Company received a notice that one of their customers, Thorson, has filed for bankruptcy. Lattice Company reviews the situation and decides to write off the $10,000 balance owed by Thorson. Write out the journal entry for this write-off as of June 30, 2020