Winfrey Designs had an unadjusted credit balance in its Allowance for Doubtful Accounts at December $31,2023,$ of $$2,500.$

Required:

a$.$ Prepare the adjusting entry assuming that Winfrey estimates uncollectible accounts based on an aging analysis as follows.

December $31,2023$ Accounts Receivable Age of Accounts Receivable Expected Percentage

Uncollectible

$ $169,000$ Not due $($under $30$ days$)1\%$

$49,0001$ to $30$ days past due $4\%$

$11,50031$ to $60$ days past due $10\%$

$2,700$ Over $60$ days past due $60\%$

b$.$ During $2024,$ credit sales were $$1,557,000$; sales discounts taken were $$29,000$; accounts receivable collected were $$1,307,200$; and accounts written off during the year totalled $$31,000.$ Prepare the adjusting entry required on December $31,2024,$ to estimate uncollectible receivables assuming it is based on the following aging analysis.

December $31,2024$ Accounts Receivable Age of Accounts Receivable Expected Percentage Uncollectible

$ $310,000$ Not due $($under $30$ days$)1\%$

$96,0001$ to $30$ days past due $4\%$

$27,00031$ to $60$ days past due $10\%$

$18,000$ Over $60$ days past due $60\%$

c$.$ Show how accounts receivable would appear on the December $31,2024,$ balance sheet.