please hekp solve the required #4

1. Prepare the November adjusting entry for bad debts. 2. Starting in December, ITI switched to using the aging method. At its December 31 year-end, total Accounts Recelvable is $80,100, aged as follows: (1) 1 to 30 days old, $66,000; (2) 31 to 90 days old, $11,000; and (3) more than 90 days old, $3,100. The average rat of uncollectibility for each age group is estimated to be (1) 11 percent, (2) 22 percent, and (3) 44 percent, respectively. Prepare a schedule to estimate an appropriate year-end balance for the Allowance for Doubtful Accounts. 3. Before the end-of-year adjusting entry is made, the Allowance for Doubtful Accounts has a $1,150 credit balance at December 31. Prepare the December 31 adjusting entry. 4. Show how the various accounts related to accounts receivable should be shown on the December 31 balance sheet. Answer is not complete. Complete this question by entering your answers in the tabs below. Show how the various accounts related to accounts receivable should be shown on the December 31 balance sheet. Innovative Tech Incorporated (IT) has been using the percentage of credit sales method to estimate bad debts. During November, ITI sold services on account for $160,000 and estimated that 1/4 of 1 percent of those sales would be uncollectible. Required: 1. Prepare the November adjusting entry for bad debts. 2. Starting in December, ITI switched to using the aging method. At its December 31 year-end, total Accounts Recelvable is $80,100, aged as follows: (1) 1 to 30 days old, $66,000; (2) 31 to 90 days old, $11,000; and (3) more than 90 days old, $3,100. The average rate of uncollectibility for each age group is estimated to be (1) 11 percent, (2) 22 percent, and (3) 44 percent, respectively. Prepare a schedule to estimate an appropriate year-end balance for the Allowance for Doubtful Accounts. 3. Before the end-of-year adjusting entry is made, the Allowance for Doubtful Accounts has a $1,150 credit balance at December 31 , Prepare the December 3 adjusting entry. 4. Show how the various accounts related to accounts receivable should be shown on the December 31 bulance sheet. Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare the November adjusting entry for bad debts. (If no entry is required for a transaction/event, select "No Journal Ent Required" in the first account field.) X Answer is not complete. Complete this question by entering your answers in the tabs below. Starting in December, ITI switched to using the aging method. At its December 31 year-end, total Accounts Recelvable is $80,100, aged as follows: (1) 1 to 30 days old, $66,000;(2)31 to 90 days old, $11,000; and (3) more than 90 days old, $3,100. The average rate of uncollectibility for each age group is estimated to be (1) 11 percent, (2) 22 percent, and (3) 44 percent, respectively. Prepare a schedule to estimate an appropriate year-end balance for the Allowance for Doubtful Accounts. 1. Prepare the November adjusting entry for bad debts. 2. Starting in December, ITI switched to using the aging method. At its December 31 year-end, total Accounts Receivable is $80,10 aged as follows: (1) 1 to 30 days old, $66,000; (2) 31 to 90 days old, $11,000; and (3) more than 90 days old, $3,100. The averag of uncollectibility for each age group is estimated to be (1) 11 percent, (2) 22 percent, and (3) 44 percent, respectively. Prepare a schedule to estimate an appropriate year-end balance for the Allowance for Doubtful Accounts. 3. Before the end-of-year adjusting entry is made, the Allowance for Doubtful Accounts has a $1,150 credit balance at December 3 Prepare the December 31 adjusting entry. 4. Show how the various accounts related to accounts receivable should be shown on the December 31 balance sheet. Answer is not complete. Complete this question by entering your answers in the tabs below. Before the end-of-year adjusting entry is made, the Allowance for Doubtful Accounts has a $1,150 credit balance at December 31. Prepare the December 31 adjusting entry. (If no entry is required for a transaction/event, select "No Joumal Entry Required in the first account field.) 1. Prepare the November adjusting entry for bad debts. 2. Starting in December, ITI switched to using the aging method. At its December 31 year-end, total Accounts Recelvable is $80,100, aged as follows: (1) 1 to 30 days old, $66,000; (2) 31 to 90 days old, $11,000; and (3) more than 90 days old, $3,100. The average rat of uncollectibility for each age group is estimated to be (1) 11 percent, (2) 22 percent, and (3) 44 percent, respectively. Prepare a schedule to estimate an appropriate year-end balance for the Allowance for Doubtful Accounts. 3. Before the end-of-year adjusting entry is made, the Allowance for Doubtful Accounts has a $1,150 credit balance at December 31. Prepare the December 31 adjusting entry. 4. Show how the various accounts related to accounts receivable should be shown on the December 31 balance sheet. Answer is not complete. Complete this question by entering your answers in the tabs below. Show how the various accounts related to accounts receivable should be shown on the December 31 balance sheet. Innovative Tech Incorporated (IT) has been using the percentage of credit sales method to estimate bad debts. During November, ITI sold services on account for $160,000 and estimated that 1/4 of 1 percent of those sales would be uncollectible. Required: 1. Prepare the November adjusting entry for bad debts. 2. Starting in December, ITI switched to using the aging method. At its December 31 year-end, total Accounts Recelvable is $80,100, aged as follows: (1) 1 to 30 days old, $66,000; (2) 31 to 90 days old, $11,000; and (3) more than 90 days old, $3,100. The average rate of uncollectibility for each age group is estimated to be (1) 11 percent, (2) 22 percent, and (3) 44 percent, respectively. Prepare a schedule to estimate an appropriate year-end balance for the Allowance for Doubtful Accounts. 3. Before the end-of-year adjusting entry is made, the Allowance for Doubtful Accounts has a $1,150 credit balance at December 31 , Prepare the December 3 adjusting entry. 4. Show how the various accounts related to accounts receivable should be shown on the December 31 bulance sheet. Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare the November adjusting entry for bad debts. (If no entry is required for a transaction/event, select "No Journal Ent Required" in the first account field.) X Answer is not complete. Complete this question by entering your answers in the tabs below. Starting in December, ITI switched to using the aging method. At its December 31 year-end, total Accounts Recelvable is $80,100, aged as follows: (1) 1 to 30 days old, $66,000;(2)31 to 90 days old, $11,000; and (3) more than 90 days old, $3,100. The average rate of uncollectibility for each age group is estimated to be (1) 11 percent, (2) 22 percent, and (3) 44 percent, respectively. Prepare a schedule to estimate an appropriate year-end balance for the Allowance for Doubtful Accounts. 1. Prepare the November adjusting entry for bad debts. 2. Starting in December, ITI switched to using the aging method. At its December 31 year-end, total Accounts Receivable is $80,10 aged as follows: (1) 1 to 30 days old, $66,000; (2) 31 to 90 days old, $11,000; and (3) more than 90 days old, $3,100. The averag of uncollectibility for each age group is estimated to be (1) 11 percent, (2) 22 percent, and (3) 44 percent, respectively. Prepare a schedule to estimate an appropriate year-end balance for the Allowance for Doubtful Accounts. 3. Before the end-of-year adjusting entry is made, the Allowance for Doubtful Accounts has a $1,150 credit balance at December 3 Prepare the December 31 adjusting entry. 4. Show how the various accounts related to accounts receivable should be shown on the December 31 balance sheet. Answer is not complete. Complete this question by entering your answers in the tabs below. Before the end-of-year adjusting entry is made, the Allowance for Doubtful Accounts has a $1,150 credit balance at December 31. Prepare the December 31 adjusting entry. (If no entry is required for a transaction/event, select "No Joumal Entry Required in the first account field.)