Part A Innovations Corp (C) uses the percentage of credit sales method to estimate bad debts each month and then uses the aging method al year-end. During November 2017, IC sold services on account for $142,000 and estimated that of one percent of those sales would be uncollectible Before the end of year adjusting entry is made, the Allowance for Doubtful Accounts has a $3.880 credit balance at December 31, 2017 Required: 1. Prepare the November 2017 adjusting entry for bad debts Part B Innovations wants to check if it used the aged receivables method to estimate it's Allowance for Doubtful balance if the method used in 1 was a good fit. They assembled the following information. At its December 31 year-end, total Accounts Receivable is $127500, aged as follows: (1)1 to 30 days old, $94,500 (2) 31 to 90 days old, $23,300; and (3) more than 90 days old, 59,700. Experience has shown that for each age group, the average rate of uncollectibility is (1) 1 percent. (2) 15 percent, and (3) 40 percent, respectively Required: 2. Prepare a schedule to estimate an appropriate year-end balance for the Allowance for Doubtful Accounts