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Question 6 Flyzopen Limited had a $900 credit balance in Allowance for Doubtful Accounts at December 31, 2020, before the current year's provision for uncollectible

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Question 6 Flyzopen Limited had a $900 credit balance in Allowance for Doubtful Accounts at December 31, 2020, before the current year's provision for uncollectible accounts. An aging of the accounts receivable revealed the following Estimated Percentage Uncollectible Current Accounts $150,000 1% 1-30 dayspast due 15.000 2% 31-60 dayspast due 10,000 6% 61-90 dayspast due 7,000 12% Over 90 dayspast due 10,000 30% Total Accounts Receivable 5192.000 Required: (2) Prepare the adjusting entry on December 31, 2020, to recomize bad debts expense (6) Assume the same facts as above except that the Allowance for Doubtful Accounts account hada $900 debit balance before the current year's provision for uncollectible accounts. Prepare the adjusting entry for the current year's provision for uncollectible accounts. 2

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