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The following information is given about Porky Pig Company's accounts receivable. The company's allowance account has a debit balance of $13,400 (before adjustment). Expected Percentage

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The following information is given about Porky Pig Company's accounts receivable. The company's "allowance account" has a debit balance of $13,400 (before adjustment). Expected Percentage Uncollectible 1% Accounts Receivable Age of December 31, 2020 Accounts Receivable $730,000 Not due (under 30 days) $354,000 1 to 30 days past due $76,000 31 to 60 days past due $60,000 Over 60 days past due 5% 10% 25% Required: SHOW YOUR WORK. (a) Prepare the necessary adjusting entry at December 31, 2020. SHOW YOUR CALCULATIONS. (5 marks) FULLY TYPE OUT THE NAME OF THE ACCOUNTS IN THE JOURNAL ENTRY; NO SHORT FORM. (b) Show how the accounts receivable will be reported on the December 31, 2020 balance sheet. (2 marks) (c) Prepare the journal entry when a customer's account ($3,750 balance) is deemed uncollectible and is written off on January 1, 2021. (2 marks)

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