Question 2: (This consists of 3 unrelated parts on this page and the next.) PARTA Tenpence Company had a $400 credit balance in Allowance for Doubtful Accounts at December 31, 2021, before the current year's provision for uncollectible accounts. An ageing of the accounts receivable revealed the following: Estimated Percentage Uncollectible Current Accounts $150,000 1% 1-30 days past due 18,000 3% 31-60 days past due 22,000 6% 8,000 12% 61-90 days past due Over 90 days past due 6,000 25% Total Accounts Receivable $204.000 Instructions 1 (a) Prepare the adjusting journal entry on December 31, 2021, to recognize bad debts expense. (b) Assume the same facts as above except that the Allowance for Doubtful Accounts account had a $300 debit balance before the current year's provision for uncollectible accounts. Prepare the adjusting journal entry for the current year's provision for uncollectible accounts. 10 Marks PART B The following data exists for Tan Corporation. 2021 2020 Accounts Receivable S. 86,000 $ 70,000 415,000 402,000 Calculate the receivable turnover ratio and the average collection period for accounts receivable in days for 2021 Net Sales