sold tienvices on account for $150,000 and ontimated that 1/4 of 1 percent of those sales would be uncollectible Requirect: 1. Prepare the November adjusting entry for bind debts. 2. Starting in December, IT swithed to using the aging method. At its December 31 yeaf-end, total fecounts Peeeivable is 5 ars. A00. aged as follows, (t) 1 to 30 days old, $69,000;(2),31 to 90 days old, $11,000; and (3) more than 90 days old, 3 ,, 400 . The aNerage rate of uncollectibinty for each age group is estimated to be (1) 11 percent. (2) 22 percent, and (3) 44 percent, fespectively, Prebse a schedule to estimate an appropriate year-end balance for the A alowance for Doubtful Accounts. 3. Before the end-of-year adjusting entry is made. the Allowance for Doubtful Accounts has a 51.300 credit balance at December Jt. Prepare the December 31 acjusting entry. 4. Show how the various accounts related to accounts receivable should be shown on the December 31 balance shert. Complete this question by entering your answers in the tabs below. Prepare the November adjusting entry for bad debts. (If no entry is required for a transactionfevent, select 'No lournai Entry Required in the first account field.) Journal entry worksheet Recond the adjusting entry for bad debts as of November 30 . Starting in December, ITI switched to using the aging method. At its December 31 year-end, total Acrounts Receivable is 183,400, aged as follows: (1) 1 to 30 days old, 569,000;(2)31 to 90 days old, $11,000;; and (3) more than 90 6ays old, 53,400. The average rate of uncollectibility for each age group is estimated to be (1) 11 percent, (2) 22 percent, and (3) 44 percent, respectivqiy. Prepare a schedule to estimate an appropriate year-end balance for the Allowance for Doubtiul Accounts. Before the end-of-year adfustiryp entry is made, the Allowance for Doubtful Accounts has a \$1, 300 credit balance at Decomber 31 . Prepare the December 31 adjusling entry. (It no entry is required for a transaction/event, select "No loumai Entry Reciuired" in thin firm account field.). Journal entry worksheet Record the adjusting entry for bad debts as of December 31 . Note: Enter debits before credits. Complete this question by entering your answers in the tabs below