Swifty Corporation has conducted a year end review of its outstanding accounts receivable and has determined the following information at December $312023$ Outstanding Balance Percentage Estimated to be Uncollectible $0-30$ days outstanding $78,4002\mathrm{.}0\%31-60$ days outstanding $33\mathrm{.}6004\mathrm{.}061-90$ days outstanding$16,8008\mathrm{.}091-120$ days outstanding$5\mathrm{.}60014\mathrm{.}0\%$ Over $120$ days outstanding $2\mathrm{.}20022\mathrm{.}0\%$ Swifty follows ASPE a$)$ Calculate the required balance for the allowance for doubtful accounts account Balance required for the allowance for doubtful account Assistance Used eTextbook and Media List of Accounts Attempts of $3$ used $)$ Prepare the yearend adjusting entry for loss on impairment the Allowance for doubtful accounts had a credit balance $2200$ prior to the adjustment Credit account titles are automatically indented when the amount entered Do not indent manually no entry is required $,$ select No Entryfor the account titles and enter for the amounts List all debit entries before credit$$entries$)$ Prepare the yearend adjusting entry for loss on impairment, assuming the Allowance for doubtful accounts had a debit balance of $$1,300$ prior to the adjustment$($Credit account titles are automatically indented when the amount is enteredDo not indent manuallyIf no entry is requiredselect $"$No Entryfor the account titles and enter for the amountsList all debit entries before$$credit$$entries$)$