Problem #4 The following information relates to Jennifer's Gemelli, Inc. for the month ended December 31, 2020: Dec. 1st balance in "Allowance for Doubtful Accounts" Write-offs for the month Reinstatements for the month Credit Sales for the month Estimated % credit sales deemed uncollectible Estimated amount of accounts deemed uncollectible, calculated using an aging of Dec. 31st accounts receivable Dec. 31st balance in "Accounts Receivable" $165,000 $15,000 $1,000 1,800,000 0.75% $163,000 $2,100,000 26 The account DEBITED for the write-off entries during 2020 is 27 The account DEBITED for reinstatement entries occurring during December 2020 is The balance indicate amount AND Dr. or Cr.) in the allowance account prior to adjustment on December 31, 2020 is 28 Sheet1 Ready 32 Questions 29 through Assume the company uses the "aging or analysis of accounts receivable" to account for bad debts. The account DEBITED for the December 31, 2020 adjusting entry is 29 30 The amount of the December 31, 2020 adjusting entry is 31 The balance in the "allowance for doubtful accounts" after adjustment is 32 The expected realizable value at December 31, 2020 is 36 Questions 33 through Assume the company uses the "% of credit sales method" to account for bad debts: The account CREDITED for the December 31, 2020 adjusting entry is 33 34 The amount of the December 31, 2020 adjusting entry is 35 The balance in the "allowance for doubtful accounts" after adjustment is 36 The expected realizable value at December 31, 2020 is Sheet1 sady