Prepare journal entries for allowance for doubtful accounts

Starlight, a Broadway media firm, use the balance sheet approach to estimate the uncollectable accounts expense. At year-end an aging of the accounts receivable produced the following five groupings: On the basis of past experience, the company estimated the percentages probably uncollectible for the above five age groups to be as follows: Group a, 1 percent; Group b, 3 percent; Group c 10, percent; Group d, 20 percent; and Group e, 50 percent, The Allowance for Doubtful Accounts before adjustments at December 31 showed a credit balance of $1 Compute the estimated amount of uncollectible accounts based on the above classification by age groups Prepare the adjusting entry needed to bring the Allowance for Doubtful Accounts to the proper amount (Credit account titles are automatically indented when the amount is entered. Do not indent manually) Assume that on January 18 of the following year. Straight learned that an account receivable that originated on August 1 in the amount of $1, 600 was If the Allowance for Doubtful Accounts account had a debit balance of $ 3,000 now would your answer to part (II) differ? (Credit account titles are automatically indented when the amount is entered. Do not indent manually)