Question 4 (8 marks, 14 minutes) Parekh Industries creates an aging schedule for its accounts receivable at the of the year and records its bad debts at the end of the year. The following selected information is from Parekh's aging schedule for the year end of December 31, 2020: Accounts Receivable Number of Days Outstanding 0-30 Days 31-60 Days 61-90 Days Over 90 Days Total $750,000 375,000 122,000 78,000 $1,325,000 Estimated Percentage Uncollectible 2% 5% 11% 27% The unadjusted balance in Allowance for Doubtful Accounts is a credit of $13,620. Required: a) Calculate the total estimated uncollectible accounts from the information above. (1 mark) b) Prepare the adjusting journal entry to record the estimated bad debts for the end of the year. (2 marks) Date Account Name Debit Credit Marks Dec. 31, 2020 Question 4 (continued) c) On February 28, 2021, management determined that $41,980 of the outstanding accounts receivable were specifically uncollectible. Record the journal entry to write off the uncollectible amount. (2 marks) Account Name Debit Credit Marks Date Feb 28, 2021 d) On August 31, 2021, Parekh subsequently collected $11,230 of the $41,980 that was determined to be uncollectible in part c). Prepaid the journal entry(ies) to record the collection. (3 marks) Account Name Debit Credit Marks Date Aug 31, 2021