Problem 8-6B Uncollectible accounts L02,3 CHECK FIGURES: b. Accounts receivable (net) = $108,700; d. Accounts receivable (net) = $126,440 Littlerock Surveying showed the following partial unadjusted results at May 31, 2017, its month-end: Account Debit Credit $860,000 Sales ........... Accounts receivable................. Allowance for doubtful accounts.................. $132,000 1,800 Part 1 Required a. Assuming Littlerock estimates bad debts to be 2.5% of sales, prepare the adjusting entry at May 31, 2017 b. Show how accounts receivable would be shown on the May 31, 2017, balance sheet using your calculations in (a). Part 2 Required c. Instead of (a) above, prepare the adjusting entry at May 31, 2017, assuming that Littlerock estimates bad debts to be based on the following aging analysis. Age of Accounts Receivable Expected Percentage Uncollectible May 31, 2017 Accounts Receivable $98,000 27,000 7,000 Not due (under 30 days) 1 to 30 days past due Over 60 days past due 4% 50% accounts receivable would be shown on the May 31, 2017, balance sheet using your calculations in (C)