Refer to the information in Exercise 7-8 to complete the following requirements. Exercise 7-9 a. Estimate the balance of the Allowance for Doubtful Accounts assuming the company uses 4.5% of Percent of receivable total accounts receivable to estimate uncollectibles, instead of the aging of receivables method. method b. Prepare the adjusting entry to record bad debts expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $12,000 credit. c. Prepare the adjusting entry to record bad debts expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts in a $1.000 debit. P? Daley Company prepared the following aging of receivables analysis at December 31. Aging of receivables Total 1 to 30 $90,000 Days Past Due 31 to 60 $36.000 61 to 90 $18,000 Over 90 $30,000 Accounts receivable ............ Percent uncolle $570,000 $396,000 Estimate the balance of the Allowance for Doubtful Accounts using aging of accounts receivable. b. Prepare the adjusting entry to record bad debts expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $3,600 credit. c. Prepare the adjusting entry to record bad debts expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $100 debit. Exercise Percent of receivables method Refer to the information in Exercise 7-8 to complete the following requirements. a. Estimate the balance of the Allowance for Doubtful Accounts assuming the company uses 4.5% of total accounts receivable to estimate uncollectibles, instead of the aging of receivables method. b. Prepare the adjusting entry to record bad debts expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $12.000 credit. c. Prepare the adjusting entry to record bad debts expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $1.000 debit