Problem #6 Antoinette Acini de Pepe has employed the percentage (.8%) of sales method to record bad debt expense and establish and allowance account. The balance in the allowance account as of January 1, 2021 was $308,000 CR. Data for the year 2021 is as follows: credit sales account written off previously written off accts. - reinstated 48,000,000 369,000 17,000 At December 31, 2021 (prior to the Dec. 31st write-off detailed below) the following aging of accounts receivable was prepared: Current 1-30 days 31-60 days 61-90 days 90+ days past due past due past due past due Receivables Est % Uncollectible 2,800,000 1% 700,000 4% 350,000 15% 150,000 30% 260,000 70% A year 2021 provision for bad debts has already been recorded utilizing the percentage of credit sales approach at .8% (eight tenths of%) On December 31, 2021 Antoinette wrote off an additional $40,000 of receivables which were included in the 90+ days past due aging interval. Required: a Record the December 31st write off b Compute the balance in the allowance account as of December 31, 2021 (show all work in a Taccount format) c Assuming Antoinette changes to the "aging" method of bad debt estimation at December 31, 2021, prepare the necessary year-end adjusting entry d Calculate the expected realizable value as of Dec. 31, 2021