Question 5 Winfrey Designs had an unadjusted credit balance in its Allowance for Doubtful Accounts at December 31, 2020, of $2,500. Required: a. Prepare the adjusting entry assuming that Winfrey estimates uncollectible accounts based on an aging analysis as follows. December 31, 2020 Accounts Receivable 169,000 49,000 11,500 2,700 Age of Accounts Receivable Not due (under 30 days) 1 to 30 days past due 31 to 60 days past due Over 60 days past due Expected Percentage Uncollectible 1% 4 % 10 % 60 % 7 points Save Answer b. During 2021, credit sales were $1,557,000; sales discounts taken were $29,000; accounts receivable collected were $1,307,200; and accounts written off during the year totalled $31,000. Prepare the adjusting entry required on December 31, 2021, to estimate uncollectible receivables assuming it is based on the following aging analysis. c. Show how accounts receivable would appear on the December 31, 2021, balance sheet.

Beguined. affusting entry required on Decimber 31,2021 , to estimate uncollediele receivables assuming it is based on the following aging analysis c. Sbow how accounts recelvable would appear on the Docember 31.2021 , balance shent