The following information pertains to Jooners as of year end on 12/31

Sales during year

800,000 cash sales
1,400,000 credit sales

2,200,000 Total Sales

Accts Receivable 12/31 860,000
Allowance for Doubtful Accounts 7,000 credit balance

Outstanding Accounts

Not due 688,000
1-30 past 86,000
31-60 past 51,600
61-90 past 25,800
Over 90 8,600

% Uncollectible
Not due 2%
1-30 past 5%
31-60 past 9%
61-90 past 15%
Over 90 25%

Prepare the following entries

1. Adjusting entry on 12/31 after doing an aging of accounts receivable assuming the company uses the percentage of receivables approach for bad debt expense

2. Entry to record bad debt of $1200 from Smith Company that has gone bankrupt on 1/30

3. Assume the company uses % of credit sales and determines that 2% of credit sales are uncollectible prepare the adjusting entry