Use the following information for the Exercises below. [The following information applies to the questions displayed below.) Daley Company prepared the following aging of receivables analysis at December 31 Days Past Due Accounts receivable Percent un collectible Total $625,000 $407,000 1 to 30 $101,000 31 to 60 61 to 90 $47,000 $29,000 Over 90 $41,000 12 Exercise 7-9 Percent of receivables method LO P3 a. Estimate the balance of the Allowance for Doubtful Accounts assuming the company uses 5% of total accounts receivable to estimate uncollectibles, instead of the aging of receivables method b. Prepare the adjusting entry to record Bad Debts Expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $13,100 credit c. Prepare the adjusting entry to record bad debts expense using the estimate from part a Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $2,100 debit Allowance lui Don Complete this question by entering your answers in the tabs below. REGA Reg B and C Book Estimate the balance of the Allowance for Doubtful Accounts assuming the company uses 5% of total accounts receivable to estimate uncollectibles, instead of the aging of receivables method. References Estimated balance of allowance for uncollectibles Red Band C eg A Kesanal Prepare the adjusting entry to record Bad Debts Expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $13,100 credit. Prepare the adjusting entry to record bad debts expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $2,100 debit. Show less View transaction list 1 Record estimated bad debts assuming that allowance for Doubtful Accounts has a $13,100 credit balance Record estimated bad debts assuming that Allowance for Doubtful Accounts has a 32.100 debit balance