On 30 June Crawford Company estimated that 1.5% of its net sales of $400,000 will become uncollectable. The company recorded this amount as an addition to Allowance for doubtful debts. On 11 November Crawford Company determined that Kevin Hayes's account was uncollectable and wrote off $1,100. On 12 December Hayes paid the amount previously written off. Instructions Prepare the journal entries on 30 June, 11 November and 12 December. Additional Exercise 18.2 Outback Company has Accounts receivable of $98,100 as at 31 March. An analysis of the accounts shows the following. Month of sale Balance 31 March March $65,000 February 17,600 January 8,500 Prior to January 7,000 $98,100 Credit terms are 2/10, n/30. As at 31 March Allowance for Doubtful debts has a credit balance of $1,200 prior to adjustment. The business uses the percentage of receivables basis for estimating uncollectable accounts. The business's estimate of doubtful debts is as follows. Age of Estimated percentage accounts uncollectable 1-30 days 2.0% 30-60 days 5.0% 60-90 days 30.0% Over 90 days 50.0% Required (a) Determine the total estimated uncollectables. (b) Prepare the adjusting entry as at 31 March to record bad debts expense