Rigney Inc. uses the allowance method to estimate uncollectible accounts receivable. The company produced the following aging of the accounts receivable at year-end

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Problem 8-4A Rigney Inc. uses the allowance method to estimate uncollectible accounts receivable. The company produced the following aging of the accounts receivable at year-end Calculate the total estimated bad debts based on the below information 0-30 77,000 196 31-60 46,000 4% Number of Days Outstanding 61-90 39,000 596 91-120 23,000 8% Over 120 $15,000 20% Total Accounts receivable % uncollectible Estimated bad debts 200,000 SHOW LIST OF ACCOUNTS (b) Prepare the year-end adjusting journal entry to record the bad debts using the aged uncollectible accounts receivable determined in (a). Assume the current balance in Allowance for Doubtful Accounts is an $8,000 debit. (c) Of the above accounts, $5,000 is determined to be specifically uncollectible. Prepare the journal entry to write off the uncollectible account. (d) The company collects $5,000 subsequently on a specific account that had previously been determined to be uncollectible in (c). Prepare the journal entry (ies) necessary to restore the account and record the cash collection