Subject: Financial Accounting II

i need the answer very quickly

Q.3 The following represents selected information taken from Alta Mine Company's aging schedule to estimate uncollectible accounts receivable at year-end. No. of Days Outstanding Account Recelvable %age Uncollectible estimated a. 1-30 days past due... .....20,000 2% b. 31-60 days past due. 40,000 5% C. 61-90 days past due . 30,000 7% d. 90-120 days past due. . 15,000 10% e. Over 120 days... 10,000 15% Total .. $ 115,000 Required: a. Compute the estimated amount of uncollectable based on the above classification (03) b. Prepare the year-end adjusting journal entry to record the bad debts using the allowance method and the aged uncollectible accounts receivable determined in (a). Assume the current balance in Allowance for Doubtful Accounts is a $2,000 debit. (03) c. Of the above accounts, $1,000 is determined to be specifically uncollectible. Prepare the journal entry to write off the uncollectible accounts. (03) d. The company subsequently collects $500 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. (03) e. How is the accounts receivable turnover rate computed? Why is this rate is significant to short- term creditors. (03)