Question 1: 20 marks (Aging of Accounts) Consider the following analysis of Accounts Receivable, as at end of the year 31 December 2020: Required: a. Prepare an aging schedule, classifying ages into four categories: 1-30 days, 31-60 days, 61-90 days, and over 90 days. Assume that the prospective bad debt percentages for each category are: 0.2%, 0.8%,10%, and 85%, respectively. (10 marks) b. What is the ending balance (i.e., the desired balance) in Allowance for Doubtful Accounts? (2 marks) c. Prepare relevant journal entries to record the amount of bad debt expense charged to the income statement for the year ended 31 December 2020, when there was a credit balance of $1,000 in Allowance for Doubtful Accounts ledger. (4 marks) d. Prepare relevant journal entries to record the amount of bad debt expense charged to the income statement for the year ended 31 December 2020 , when there was a debit balance of $1,800 in Allowance for Doubtful Accounts ledger. (4 marks) Question 1: 20 marks (Aging of Accounts) Consider the following analysis of Accounts Receivable, as at end of the year 31 December 2020: Required: a. Prepare an aging schedule, classifying ages into four categories: 1-30 days, 31-60 days, 61-90 days, and over 90 days. Assume that the prospective bad debt percentages for each category are: 0.2%, 0.8%,10%, and 85%, respectively. (10 marks) b. What is the ending balance (i.e., the desired balance) in Allowance for Doubtful Accounts? (2 marks) c. Prepare relevant journal entries to record the amount of bad debt expense charged to the income statement for the year ended 31 December 2020, when there was a credit balance of $1,000 in Allowance for Doubtful Accounts ledger. (4 marks) d. Prepare relevant journal entries to record the amount of bad debt expense charged to the income statement for the year ended 31 December 2020 , when there was a debit balance of $1,800 in Allowance for Doubtful Accounts ledger. (4 marks)