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SOLVE PARTS B AND C please Question 1 (10 Marks). ABC Company's accountant had prepared the following schedule for its accounts receivable for its 2019

image text in transcribedSOLVE PARTS B AND C please

Question 1 (10 Marks). ABC Company's accountant had prepared the following schedule for its accounts receivable for its 2019 year-end: Amount Accounts Receivable Category Not yet due 1-30 days past due 31-60 days past due 61-90 days past due Over 90 days past due $111,000 45,000 19,500 4,500 7,500 Proportion expected to Default 1% 3% 10% 20% 40% Before adjusting entries are entered, the pre-adjusted balance in the Allowance for Doubtful Accounts at December 31 (year-end date) showed a credit balance of $2,700. Required: a. Based on the above information, the post adjustment balance in ABC's Allowance for Doubtful Accounts at December 31, 2019 should be (4 marks): 8310 b. Determine the bad debts expense for ABC for 2019 (2 marks): 11760 c. Assume that in January 2020, accounts receivable of $3,456 were written off as uncollectible and an accounts receivable of $468 that was previously written off in December 2019, was collected. Give the necessary journal entries (4 marks). Debit Credit To write-off uncollectible accounts receivable To collect accounts receivable previously written off

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