Presented below is information related to the Accounts Receivable accounts of Wildhorse Inc. during the current year 2020. 1. An aging schedule of the accounts receivable as of December 31, 2020, is as follows. % to Be Applied after Correction Is Made 2% Age Under 60 days 60-90 days 91-120 days Net Debit Balance $170,600 135,100 39,900 3% 6% $3,400 definitely uncollectible; estimated remainder uncollectible is 23% Over 120 days 22,700 $368,300 *The $3,500 write-off of receivables is related to the 91-to-120 day category 2. The Accounts Receivable control account has a debit balance of $368,300 on December 31, 2020. 3. Two entries were made in the Bad Debt Expense account during the year: (1) a debit on December 31 for the amount credited to Allowance for Doubtful Accounts, and (2) a credit for $3,500 on November 3, 2020, and a debit to Allowance for Doubtful Accounts because of a bankruptcy. 4. Allowance for Doubtful Accounts is as follows for 2020. Nov. 3 Allowance for Doubtful Accounts Uncollectible accounts 3,500 Jan. 1 Beginning balance written off Dec. 31 5% of $368,300 8,200 18,415 5. A credit balance exists in Accounts Receivable (60-90 days) of $4,900, which represents an advance on a sales contract. Assuming that the books have not been closed for 2020, make the necessary correcting entries. (Round answers to O decimal places, eg. 5,275. If no entry is required, select "No Entry"for the account titles and enter for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Date Dec. 31, 2020 Bad Debt Expense 3400 Accounts Receivable 3400 (To correct bad debt expense and write off accounts receivable) Dec. 31, 2020 Accounts Receivable 4900 Sales Discounts 4900 (To reclassify credit balance in accounts receivable) Dec. 31, 2020 Bad Debt Expense 3400 Accounts Receivable 3400 (To write off uncollectible accounts) Dec. 31, 2020 Allowance for Doubtful Accounts Bad Debt Expense (To reduce allowance for doubtful account balance)