Question 3 [5 points) Segura Corporation had credit sales of $2,900,000 in 2014. Al year End December 31, 2014 the company's Allowance for Doubtful Accounts had an unted credit balance of $10.00 The accountant for Segura Corporation has prepared a schedule of the December 31, 2014 accounts receivable by age and, on the basis of past experience he estimated the percentage of the recovers in each age category that will become uncollectible. This information is summarized as follows MATE med Puma 5.500.000 500 000 39.000 34000 5000 Noe due under 30 days) 1 to 30 days past due 31 to 60 days past due 51 to 90 days past due Over 5 days past due 1404 3 6.75 3150 65 a) Compute the amount that should appear in the December 31, 2014 balance sheet as the allowance for doubtful accounts Allowance for doubtful accounts = 5 b) Prepare the journal entry to record bad debt expense for 2014 General Journal Page 1 Date Account Epation Det Credit To record bad debt expense Question 3 [5 points) Segura Corporation had credit sales of $2.900.000 in 2014 At year End, December 31, 2014 the company's Allowance for Doubtful Accounts had an unted credit balance of $10,000 The accountant for Segura Corporation has prepared a schedule of the December 31, 2014 accounts receivable by age and on the basis of past experientes estimated the percentage of the receivables in each age category that will become uncollectible. This information is summarized as follows Age of Noraunts hernuna ocenate Recoratie Unitecile $ 500.000 500.000 32.000 34000 1000 Not due (under 30 days) 1 o 30 days past due 31 to 60 days past due 61 to 90 days past due Over 90 days past due 1.40 3 6.75 3150 65 a Compute the amount that should appear in the December 31, 2014 balance sheet as the allowance for doubtfut accounts Niowance for doubtful accounts = 5 b) Prepare the journal entry to record bad debit expense for 2014 General Page QUE Debit Credit to record bad de expense