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Young and Old Corporation (YOC) Uses two aging categories to estimate uncollectible accounts. Accounts less than 60 days are considered young and have a 3% uncollectible rate. Accounts more than 60 days are considered old and have a 40% uncollectible rate Required: 1. If YOC has $109,000 of young accounts and $480,000 of old accounts, how much should be reported in the Allowance for Doubtful Accounts 2.IYOC's Allowance for Doubtful Accounts currently has an unadjusted credit balance of $48.000. how much should be credited to the account? 3. If yoc's Allowance for Doubtful Accounts has an unadjusted debit balance of $5,800, now much should be credited to the account? 1. Amount to be Reported 2. Amount to be credited 3. Amount to be Credited 3 0 Part 1 of 2 Required Information [The following information applies to the questions displayed below.) Fraud Investigators Incorporated operates a fraud detection service. 1.11 points 4. On March 31. 10 customers were billed for detection services totaling $20,000 b. On October 31, a customer balance of $1,250 from a prior year was determined to be uncollectible and was written off. c. On December 15, a customer paid an old balance of $750, which had been written off in a prior year, d. On December 31, $450 or bad debts were estimated and recorded for the year eBook Hint Required: 1. Prepare Journal entries for each transaction above. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account fleld.) Print o References View transaction list Journal entry worksheet 5 On March 31, 10 customers were billed for detection services totaling $20.000. Record the transaction. Note: Enter debits before credits Transaction deneral Journal Det Credit Record entry Clear entry View moral Journal