Presented below is information related to the Accounts Receivable accounts of Bridgeport Inc. during the current year 2020. 1. An aging schedule of the accounts receivable as of December 31, 2020, is as follows.

Age		Net Debit Balance			% to Be Applied after Correction Is Made
Under 60 days		$171,900			1%
6090 days		135,300			3%
91120 days		39,500	*		5%
Over 120 days		22,800			$3,700 definitely uncollectible; estimated remainder uncollectible is 23%
		$369,500

*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 $369,500 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.

Allowance for Doubtful Accounts
Nov. 3		Uncollectible accounts written off		3,500	Jan. 1		Beginning balance		9,600
					Dec. 31		5% of $369,500		18,475

5. A credit balance exists in Accounts Receivable (6090 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 0 decimal places, e.g. 5,275. If no entry is required, select "No Entry" for the account titles and enter 0 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 (To correct bad debt expense and write off accounts receivable) Dec. 31, 2020 (To reclassify credit balance in accounts receivable) Dec. 31, 2020 (To write off uncollectible accounts) Dec. 31, 2020 (To reduce allowance for doubtful account balance)