Winfrey Designs had an unadjusted credit balance in its Allowance for Doubtful Accounts at December 31, 2017, of $1,800. Required: a. Prepare the adjusting entry assuming that Winfrey estimates uncollectible accounts based on an aging analysis as follows. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) December 31, 2017 Accounts Receivable Age of Accounts Receivable Expected Percentage Uncollectible $120,000 Not due (under 30 0.75% days) 35,000 1 to 30 days past due 4% 8,000 31 to 60 days past 10% due 2,000 Over 60 days past due 60% Answer is complete and correct. No Date General Journal 1 December 31, 201 Bad debt expense i Allowance for doubtful accounts Debit Credit 0 2,500 2,500 O b. During 2018, credit sales were $1,200,000; sales discounts taken were $22,000; accounts receivable collected were $995,000; and accounts written off during the year totalled $24,000. Prepare the adjusting entry required on December 31, 2018, to estimate uncollectible receivables assuming it is based on the following aging analysis. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) December 31, 2018 Accounts Age of Accounts Receivable Expected Percentage Uncollectible Receivable Not due (under 30 $240,000 0.75% days) 75,000 1 to 30 days past due 4% 31 to 60 days past 20,000 10% due 11,000 Over 60 days past due 60% Answer is complete but not entirely correct. No Date General Journal 1 December 31, 201 Bad debt expense Allowance for doubtful accounts Debit Credit 13,400 13,400 c. Show how accounts receivable would appear on the December 31, 2018, balance sheet. Answer is complete but not entirely correct. Partial Balance Sheet Assets Current assets: Accounts receivable $ 346,000 Less: Allowance for doubtful accounts 47,910 $ 47,910