QUESTION #2 The following represents selected information taken from a company's aging schedule to estimate uncollectible accounts receivable at year-end: Number of Days Outstanding Accounts receivable % Uncollectible 0-30 $322,000 2.2% 31-60 $415,000 6.7% 61-90 $88,000 8.5% 91-120 $57,000 17.3% Over 120 $25,000 38.1% Instructions (a) Prepare an aging schedule using the above information in good form as shown in lecture example. (b) Prepare the year-end adjusting journal entry to record the bad debts using the allowance method and the aging schedule created in part (a). Assume the unadjusted balance in the Allowance for Doubtful Accounts account is a $9,876 debit. (c) of the above accounts, S1,516 is determined to be specifically uncollectible from T. Mills. Prepare the journal entry to write of the uncollectible account. (d) What is the Net Realizable Value that would have been shown on the balance sheet before and after the write off in part (c)? Show your calculations. (e) The company subsequently collects $1,288 on a specific account that had previously been determined to be uncollectible and written off. Prepare the necessary journal entry(ies) to record this event