Sheridan Company has accounts receivable of $94,800 at March 31, 2022. Credit terms are 2/10, 1/30. At March 31, 2022, there is a $2,271 credit balance in Allowance for Doubtful Accounts prior to adjustment. The company uses the percentage-of-receivables basis for estimating uncollectible accounts. The company's estimates of bad debts are as shown below. Balance, March 31 Estimated Percentage Age of Accounts 2022 2021 Uncollectible Current $63,400 $80,240 1-30 days past dye 13,200 7,500 31-90 days past due 11,000 2,170 Over 90 days past due 7,200 1,130 $94,800 $91,040 Determine the total estimated uncollectibles at March 31, 2022 Total estimated uncollectibles Brief Exercise 9-08 Sandhill Co. sells office equipment on July 31, 2022, for $22,430 cash. The office equipment originally cost $77,870 and as of January 1, 2022, had accumulated depreciation of $36,830. Depreciation for the first 7 months of 2022 is $4,580. Prepare the journal entries to (a) update depreciation to July 31, 2022, and (b) record the sale of the equipment. (Credit account titles are automatically Indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts) No. Account Titles and Explanation Debit Credit