Pachel Corporation reports the following information pertaining to its accounts receivable:

	Days Past Due
Current	130	3160	6190	Over 90
$ 60,000	$ 40,000	$ 25,000	$ 12,000	$ 2,000

The company's credit department provided the following estimates regarding the percent of accounts expected to eventually be written off from each category listed above:

Current receivables outstanding	2	%
Receivables 130 days past due	4
Receivables 3160 days past due	16
Receivables 6190 days past due	40
Receivables over 90 days past due	90

The company uses a statement of financial position approach to estimate credit losses.

a.	Record the company's impairment loss of receivable, assuming it has a $1,400 credit balance in its Allowance for Impairment prior to making the necessary adjustment. (Omit the "$" sign in your response.)

General Journal	Debit	Credit
(Click to select)Allowance for ImpairmentLoss on sale of investmentsCashGain on sale of investmentsAccounts receivableImpairment loss of receivableAccounts payableMarketable securities
(Click to select)Marketable securitiesGain on sale of investmentsImpairment loss of receivableLoss on sale of investmentsAllowance for ImpairmentAccounts payableAccounts receivableCash

b.	Record the company's impairment loss of receivable, assuming it has a $1,600 debit balance in its Allowance for Impairment prior to making the necessary adjustment. (Omit the "$" sign in your response.)

General Journal	Debit	Credit
(Click to select)Marketable securitiesGain on sale of investmentsCashImpairment loss of receivableLoss on sale of investmentsAllowance for ImpairmentAccounts payableAccounts receivable
(Click to select)CashLoss on sale of investmentsAccounts receivableAccounts payableMarketable securitiesGain on sale of investmentsImpairment loss of receivableAllowance for Impairment

6. value: 13.00 points Pachel Corporation reports the following information pertaining to its accounts receivable: Current $ 60,000 1-30 $ 40,000 Days Past Due 31-60 61-90 $ 25,000 $ 12,000 Over 90 $ 2,000 The company's credit department provided the following estimates regarding the percent of accounts expected to eventually be written off from each category listed above: Current receivables outstanding 2 % Receivables 1-30 days past due 4 Receivables 31-60 days past due 16 Receivables 61-90 days past due 40 Receivables over 90 days past 90 due The company uses a statement of financial position approach to estimate credit losses. a. Record the company's impairment loss of receivable, assuming it has a $1,400 credit balance in its Allowance for Impairment prior to making the necessary adjustment. (Omit the "$" sign in your response.) General Journal Debit Credit (Click to select) (Click to select) b. Record the company's impairment loss of receivable, assuming it has a $1,600 debit balance in its Allowance for Impairment prior to making the necessary adjustment. (Omit the "$" sign in your response.) General Journal Debit Credit (Click to select) (Click to select)