Using an Aging Schedule to Account for Bad Debts Sparkle Jewels distributed fine stones. It sells or credit to retail jewelry stores and extends term that require the stores to pay in eodays for accounts that we not overdue, Sparkle has found that there is a 95% probability of collection. For accounts up to one month past due, the likelihood of collection decreases to 80% accounts are between one and two months gust due, the probability of collection 60% and it an account is over two months post Spreeweb estimates only 40% chance of collecting the receivable On December 31, 2017, the balance in Mowance for Doubtful Account is $12,300. The amounts et gros receivables by age on the docere as follow Category Current Past due Amount $200,000 One the Over the 45.000 25,000 1,000 Required: 1. Prepare a schedule to estimate the amount of corectible accounts at December 31, 2017 Sparkle Jewels Aging Schedule to Account for Bad Debta Estimated Percent Uncollectible Estimated Amount Uncollectible Amount $200,000 Category Current Panto Less than one month One to two months l r 45.000 25.000 1,000 Over two months $27.000 OUTROS o Total $271.000 2. On the bars of the wedure in part (1) Milyen analyse the strant on December 31, 2017 to emateade Adity How does the entry affect the accounting equation financial statementem not affected sector and leave the amount box blank the effect on a financial statement team is regative, I, a decreas, be sure to enter the answer with a min lemben contrattunt is the effect of de the corresponding financial statement tam Balance Sheet Income statement Stockholders' Assets Liabilities + Equity Revenues Expenses 3. Show how accounts receive we bented on the December 31, 2017, balance sheet Sparkle Jewels Partial lance Sheet December 31, 2017 Current