please complete chart and answer 3,4, and 5.

options for question 5 is overstated and understated

Wig Creations Company supplies wigs and hair care products to beauty salons throughout Texas and the Southeest. The accounts recelvable derk for Wig Creotions prepared the following partially completed aging of receivables schedule as of the end of business on December 31, 20r7: The follewing accounts were unintentionally omitted from the aging schedule. Aswume af due dates are for the current year excepn ror Visions Hair a Nal, which is due in the next year. The foliowing accounts were unintentionally omitted from the aging schedule. Assume all due dates are for the current year except for Visions Hair 8 Nall, which is due in the next year. Wig Creations has a past history of uncollectible accounts by age category, as follows: Required: 1. Determine the number of days past due for each of the preceding accounts. If an account is not past due, enter a zero. 2. Complete the aging of recevables schedule by adding the ometted accounts to the bottom of the schedule and updating the totals. If an amount box does not require an entry, leave it blank. Wig Creations Company Aging of Receivables Schedule December 31, 20Y7 3. Estimate the allowance for doubtful accounts, based on the aging of recelvables schedule. 5 4. Assume that the allowance for doubtful accounts for Wig Creations has a credit balance of $3,100 before adjustment on December 31,20Y7. Journalize the adjustment for uncoliectible accounts. If an amount box does not require an entry, leave it blank. Dec. 31 5. Assume that the adjusting entry in (4) was inadvertently omitted, how would the omission affect the balance sheet and income staternent? On the balance sheet, assots would be by $ because the allowance for doubtful accounts would be . In addition, the stockholders' equity (retained earnings) would be by $ because bad debt expense would be and net income by 1 on the income statement