Nagano International has 420 accounts receivable in its subsidiary ledger, all accounts are due in 30 days. The following data is available at the end of the year, dec-31 Sales for the year: Rs 500,000 (40% of the sales is on cash) Allowance for bad debts: Credit balance Rs 34,500. On December 31, an aging schedule was prepared, the results are summarized below. Customer Total 418 names Subtotals 863,125 Not yet due 1-30 Days 31-60 Days 61-90 Over 90 Days Past due Past due Past due Days Past due 458,975 236,700 108,350 22,500 36,600 Two accounts Receivable were accidentally omitted from this schedule, the following data are available. Regarding these accounts: 1. 11. J Ardis owes 10,625 from two invoices: invoice no 218 dated September 14 in the amount of 7,450 and invoice no: 568 dated November 9, in the amount 3,175 N Sestland owes 9,400 from two invoices: invoice no 574, dated November 19, in the amount of 3,375 and invoice no 641, dated December 5, in the amount of 6,025. Required: a) Calculate bad debt expense assuming bad debt is estimated to be 5% of credit sales b) Complete the aging schedules as of December 31, by adding to the column subtotals. An aging of the accounts of Ardis and Selstad c) Prepare a schedule to compute the estimated portion of each group that will prove un collectable and the required balance in the allowance for doubtful accounts, after considering the following percentages related to each group .Not yet due, 1%, 1-30 days, 4% : 31-60 days, 10%: 61-90 days: 30% : over 90 days, 50% : d) Prepare the adjusting entry to bring the allowance for doubtful accounts up to its required Balance at December 31. e) Show how accounts receivable would appear in the Company's balance sheet at Dec-31 f) Will there be any entry required on Dec-31, if company is following direct write-off approach. g) Assume on Mar-25 next year, J-Ardis becomes bankrupt, what should be the entry in the books of company if company follows 1. Allowance approach 11. Direct write-off approach h) Further assume that accidentally the amount write-off on March-15 from J.Ardis was collected on Apr-15,what should be the entry in the books of company if it follows 1. Allowance approach 2. Direct write-off approach