Please only answer the question in the first photo.

AutoSave OFF OF AGES AREU Chapter 8 Bonus Problem - Student a Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments X CG Calibri (Body v 11 v P A a Wras Text General STEX [ AYO FC Paste A = = - - Merge & Center Insert S% % % Format Delete Conditional Format Cell Formatting as Table Styles Sort & Filter Find & Select Analyze Data y BIU fx B17 B D E F F G H H 1 j K L M 29 30 Using the ending balance in the Allowance for Doubtful Accounts calculated in (b), 31 what is the adjusting journal entry for bad debts on February 28th using the aging method? 32 Use the your T-account from problem (b) to assist you. 33 34 Allowance for Doubtful 35 600 36 1,000 37 38 39 11,100 40 41 Bad Debt Expense 42 Allowance for Doubtful Accounts 45 43 44 45 46 47 48 49 50 51 32 52 53 3 54 55 56 67 Sheet1 + Ready + % 150% AutoSave OFF OF AREU Chapter 8 Bonus Problem - Student a Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments Calibri (Body v 11 v P A a Wras Text General X [G [ AYO STT Ich Paste 1 BIU A = = - Insert Merge & Center S% % % 9-93 Delete Format Conditional Format Cell Formatting as Table Styles Sort & Filter Find & Select Analyze Data y H13 E F G H H 1 j K L M A B D 1 ABC Company has been using the percentage of sales method to estimate Bad Debt Expense. 2 The information relative to ABC's January sales is as follows: 3 4 Sales for January 100,000 5 Estimated 1% of Sales is Uncollectible 1% 6 Estimated Bad Debt 1,000 (a) What is the adjusting journal entry for bad debts on January 31st? Bad Debt Expense 1,000 Allowance for Doubtful Accounts 1,000 7 8 9 10 11 12 13 14 15 (b) Post the adjustment above to the allowance for doubtful accounts (below). Calculate the ending balance in the allowance for doubtful accounts at January 31st. Note: The opening balance in the allowance for doubtful accounts was $600 before the January 31st journal entry. Allowance for Doubtful Accounts 600 1,000 16 17 18 19 20 21 22 23 1,600 (c) Starting in February, ABC switched to using the aging method. The following aging chart was prepared: 24 25 26 1 - 30 days 75,000 31-90 days 10,000 more than 90 days 4,000 TOTAL 89,000 Accounts Receivable Amount Sheet1 + Ready + 150% AutoSave OFF OF AGES AREU Chapter 8 Bonus Problem - Student a Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments X CG Calibri (Body v 11 v P A a Wras Text General STEX [ AYO FC Paste A = = - - Merge & Center Insert S% % % Format Delete Conditional Format Cell Formatting as Table Styles Sort & Filter Find & Select Analyze Data y BIU fx B17 B D E F F G H H 1 j K L M 29 30 Using the ending balance in the Allowance for Doubtful Accounts calculated in (b), 31 what is the adjusting journal entry for bad debts on February 28th using the aging method? 32 Use the your T-account from problem (b) to assist you. 33 34 Allowance for Doubtful 35 600 36 1,000 37 38 39 11,100 40 41 Bad Debt Expense 42 Allowance for Doubtful Accounts 45 43 44 45 46 47 48 49 50 51 32 52 53 3 54 55 56 67 Sheet1 + Ready + % 150% AutoSave OFF OF AREU Chapter 8 Bonus Problem - Student a Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments Calibri (Body v 11 v P A a Wras Text General X [G [ AYO STT Ich Paste 1 BIU A = = - Insert Merge & Center S% % % 9-93 Delete Format Conditional Format Cell Formatting as Table Styles Sort & Filter Find & Select Analyze Data y H13 E F G H H 1 j K L M A B D 1 ABC Company has been using the percentage of sales method to estimate Bad Debt Expense. 2 The information relative to ABC's January sales is as follows: 3 4 Sales for January 100,000 5 Estimated 1% of Sales is Uncollectible 1% 6 Estimated Bad Debt 1,000 (a) What is the adjusting journal entry for bad debts on January 31st? Bad Debt Expense 1,000 Allowance for Doubtful Accounts 1,000 7 8 9 10 11 12 13 14 15 (b) Post the adjustment above to the allowance for doubtful accounts (below). Calculate the ending balance in the allowance for doubtful accounts at January 31st. Note: The opening balance in the allowance for doubtful accounts was $600 before the January 31st journal entry. Allowance for Doubtful Accounts 600 1,000 16 17 18 19 20 21 22 23 1,600 (c) Starting in February, ABC switched to using the aging method. The following aging chart was prepared: 24 25 26 1 - 30 days 75,000 31-90 days 10,000 more than 90 days 4,000 TOTAL 89,000 Accounts Receivable Amount Sheet1 + Ready + 150%