P91A The September 30, 202 0, balance sheet of Kroenke Products reported the following: (Wm Rem-Nam 310.000 During the last quarter of 2020, [(r0 enke \"Imam f0, \"55\"] Accounts {creditbalanoej 10.003 Products completed the following selected transactions: Dec. 30 Wrote offthe following accounts receivable as uncollecijble: Barry White, $2,500; Carlos Media, $2,200; and Doug @9119; $1,100. 3 1 Recorded bad debt expense [rounded up to the nearest dollar] based on the aging of accounts receivable, as follows: Age of Accounts Receivable 1-30 31 -60 61-90 Over 90 Days Days Days Days Total a Accounts Receivable $179,000 $95,000 $30,500 $17,000 $328,500 n Estimated percent uncolleaible 0.1% {13% 5.0% 40.0% 5 Required 1. Record the transactions in the general journal. 2. Open the Allowance for Doubtful Accounts three-column ledger account and post entries affecting that account. Keep a running balance. 3. Most companies report two-year comparative nancial statements. If Kroenke Products' Accounts Receivable balance was $320,000 and the Allowance for Doubtful Accounts stood at $12,000 at December 31, 2019, show how the company will report its Accounts Receivable in a comparative balance sheet for 2020 and 2019. 4-. w on December 31, the bad debt expense was based on an estimate of 4 percent of the accounts receivable balance rather than on the aging of accounts receivable. Record the December 31, 2020, entry for bad debt expense in the general journal