Problem 8-01A a-d Sarasota Corp. uses the allowance method of accounting for bad debts. The company produced the following aging of the accounts receivable at year-end. Calculate the total estimated bad debts based on the information below. Total $388,000 Accounts receivable Number of Days Outstanding 31-60 61-90 91-120 $82,000 - $39,000 $21,000 0-30 $234,000 Over 120 $12,000 W uncollectible 1960 4% 5% 7 Estimated bad debts s Prepare the year and adjusting journal entry to record the bad debts using the aged uncollectible accounts receivable determined above. Assume the unadjusted balance in Allowance for Doubtful Accounts is a $3,600 debit. (Credit account titles are automatically indented when amount is entered Do not indent manually.) Account Titles and Explanation Debit Credit CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT of the above accounts, $4,700 is determined to be specifically uncollectible. Prepare the journal entry to write off the uncollectible account. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit The company collects $4,700 subsequently on a specific account that had previously been determined to be uncollectible in part (e). Prepare the journal entries necessary to (1) restore the account and (2) record the cash collection. (Credit account ttles are automatically indented when amount is entered. Da mot indent manually.) No. Account Tities and Explanation Credit Click if you would like to show Work for this question: Open Show Work