Problem 9-04A a-d (Video) Pina Inc. uses the allowance method to estimate uncollectible accounts receivable. The company produced the following aging of the accounts receivable at year-end. Calculate the total estimated bad debts based on the below information. Total 352,500 0-30 106,900 Number of Days Outstanding 31-60 61-90 91-120 74,400 68,900 54,300 6% 9% Over 120 $48,000 21% 24 Accounts receivable % uncollectible Estimated Bad debts s SHOW LIST OF ACCOUNTS LINK TO TEXT (b) Prepare the year-end adjusting journal entry to record the bad debts using the aged uncollectible accounts receivable determined in (a). Assume the current balance in Allowance for Doubtful Accounts is a $8,500 debit. (c) of the above accounts, $4,900 is determined to be specifically uncollectible Prepare the journal entry to write off the uncollectible account. (d) The company collects $4,900 subsequently on a specific account that had previously been determined to be uncollectible in (c). Prepare the journal entries necessary to restore the account and record the cash collection Problem 9-01A a-d (Video) At December 31, 2019, Oriole Co. reported the following information on its balance sheet. Accounts receivable Less: Allowance for doubtful accounts $956,700 81,000 During 2020, the company had the following transactions related to receivables. 1. Sales on account 2. Sales returns and allowances 3. Collections of accounts receivable 4. Write-offs of accounts receivable deemed uncollectible 5. Recovery of bad debts previously written off as uncollectible $3,673,800 51,000 2,801,800 88,800 27,250 Prepare the journal entries to record each of these five transactions. Assume that no cash discounts were taken on the collections of accounts receivable. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit No Account Titles and Explanation At December 31, 2020, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $11,200. Journalize and post the adjusting entry for bad debts at December 31, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles Debit Credit Dec. 31 Bad Debts Expense Date Explanation Ref. Debit Cred Dec. 31 Adjusting Allowance for Doubtful Accounts Date Explanation Balance Credit Ref. Debit Dec 31 Balance Dec 31 Adjusting