Willie Cheetum is the CEO of Happy Foods, a distributor of produce to grocery store chains throughout the Midwest. At the end of the year, the company's accounting manager provides Willie with the following Information, before any adjustment. Accounts receivable Estimated percentage uncollectible Allowance for uncollectible accounts $ 1,070,000 9% $ 37,000 $ 257,000 (credit) Operating income Willie's compensation contract states that if the company generates operating Income of at least $207,000, he will get a salary bonus early next year. Required: 1. Record the adjusting entry for uncollectible accounts using the accountant's estimate of 9% of accounts receivable. 2-a. After the adjusting entry is recorded in requirement 1, what is the revised amount of operating Income? 2-b. Will Willie get his salary bonus? 3. Willie Instructs the accountant to record the adjusting entry for uncollectible accounts using 6% rather than 9% of accounts receivable. Now will Willie get his salary bonus? 4. By how much would total assets and operating Income be misstated using the 6% amount? Complete this question by entering your answers in the tabs below. Req 1 Req 2a Req 2b Req 3 Req 4 Record the adjusting entry for uncollectible accounts using the accountant's estimate of 9% of accounts receivable. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet > Record the adjusting entry for uncollectible accounts. Note: Enter debits before credits. Transaction 1 General Journal Debit Credit Record entry Clear entry View general journal