Prepare the following journal entries

Assume that you are using the aging of account receivable to estimate the amount of bad debt, prepare the adjusting entry using the following information:

number of days outstanding Account receivable percentage of uncollectible

0 - 30 $ 8,000 2%

31 - 60 $ 50,000 3%

61 - 90 $ 45,000 4%

91 - 120 $ 25,000 8%

over 120 $ 18,000 11%

i) If the account of Allowance of Doubtful Account have a credit balance of $5,000.00.

ii) If the account of Allowance of Doubtful Account have a dedit balance of $1,500.00.