Question 2 of 2 12Points Jabbar Company allows 30 days credit to all of its customers. The invoice wise break down of accounts receivable of Jabbar Company as at December 31, 2019 is appended below: Aug 15 Esmail & Co $62346 July 20 Dawood & Co, $388320 Sep 11 Cassim & Co. $306000 Oct 15 Akbar & Co. $114437 Oct 28 Esmail & Co. $132600 Nov 11 Cassim & Co. $51359 Nov 15 Akbar & Co. $92962 Nov 28 Esmail & Co. $154487 Dec 9 Babar & Co. $307103 Dec 11 Cassim & Co. $1*153224 Dec 28 Esmail & Co. $939565 At December 31, 2019, the unadjusted balance in Allowance for Doubtful Accounts is credit of $108905. Probability of collection of receivable is 96% for not yet due; 89% for past dues upto 30 days, 85% for past due over thirty days but upto sixty day, 72% for past due over sixty days but upto ninety days, 50% for past due over ninety days Instructions: (a) What is the total outstanding balance of Akbar & Co. (b) Prepare an aging schedule as December 31, 2019. (c) Compute the estimated amount of bad debts as at December 31, 2019. (d) Journalize and post the adjusting entry for bad debts at December 31, 2019. (e) Journalize and post to the allowance account the following events and transactions in the year 2020: On March 1, a customer balance $14400 originating in 2019 is judged uncollectible. (ii) on May 1, a check of $14400 is received from the customers whose account was written off as uncollectible on March 1. () Journalize the adjusting entry for bad debts on December 31, 2020. Assume that the unadjusted balance in Allowance for Doubtful Accounts is a debit of $14837 and the aging schedule indicates that total estimated bad debts will be $289789