Please help me

Kingbird Merchandising uses an aging schedule to determine its estimated uncollectible accounts at year end, and uses a single account for Allowance for Doubtful Accounts. An incomplete schedule is as follows:

KINGBIRD MERCHANDISING

Aged Schedule of Accounts ReceivableNo. of Days

Outstanding

Amount

Estimated %

Uncollectible0-30 days

$61,440

0.44%31-60 days

26,0406.41%

61-90 days

11,710

22.00%

Over 90 days

4,86052.00%

$104,050

On December 31, the trial balance before adjustments shows the following balances:

DebitCreditAccounts Receivable

$104,050

Allowance for Doubtful Accounts

1,590

Record the entry for bad debt expense for the current year assuming they use the table to determine the estimated uncollectible accounts.(Credit account titles are automatically indented when the amount is entered.Do not indent manually. Round answers to 2 decimal places, e.g. 52.76.)

KINGBIRD MERCHANDISING

Aged Schedule of Accounts ReceivableNumber of Days

Outstanding

Amount

Estimated %

UncollectibleEstimated

Uncollectible

Accounts

0-30 days

$61,4400.44%$

31-60 days

26,0406.41%

61-90 days

11,710

22.00%

Over 90 days

4,860

52.00%

$104,050$

1) Record the entry for bad debt expense for the current year assuming Allowance for Doubtful Accounts has the same amount but the allowance should be 7% of accounts receivable

2)

Record the entry for bad debt expense for the current year assuming Allowance for Doubtful Accounts has the same amount but it is a credit balance. The estimated uncollectible accounts is $7,042.90

3) Record the entry for bad debt expense for the current year assuming Allowance for Doubtful Accounts has the same amount but it is a credit balance and $9,970 of the 0-30 on the Aged Schedule of Accounts Receivable is actually a note receiveable issued on December 30.