Required information The following information applies to the questions displayed below) Daley Company prepared the following aging of receivables analysis at December 31, Days Past Due Recounts receivable Percent uncollectible Total $590,000 0 $400,000 28 1 to 30 $94.000 38 31 to 60 $40,000 68 61 to 90 $22,000 88 Over 90 $34,000 118 a. Estimate the balance of the Allowance for Doubtful Accounts assuming the company uses 4% 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 $12,400 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 $1,400 debit Complete this question by entering your answers in the tabs below. Reg A Red Band Estimate the balance of the Allowance for Doubtful Accounts assuming the company uses 4% of total accounts receivable to estimate uncollectibles, instead of the aging of receivables method. Estimated balance of allowance for uncollectibles Reg Band C> Help Save Required information Reg A Reg Band 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 $12,400 credit. 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 $1,400 debit. Show less View transaction list 10 Journal entry worksheet Record estimated bad debts assuming that allowance for Doubtful Accounts has a $12,400 credit balance. Note: Enter debits before credits General Journal Debit Credit Dec 31 Reg A Req B and 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 $12,400 credit. 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 $1,400 debit. View transaction list Journal entry worksheet