Winfrey Designs had an unadjusted credit balance in its Allowance for Doubtful Accounts at December $31,2023,$ of $$2,150.$

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

$ $147,000$ Not due $($under $30$ days$)1\%$

$42,0001$ to $30$ days past due $4\%$

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

$2,300$ Over $60$ days past due $60\%$

b$.$ During $2024,$ credit sales were $$1,273,000$; sales discounts taken were $$24,000$; accounts receivable collected were $$1,084,300$; and accounts written off during the year totalled $$25,000.$ 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

$ $250,000$ Not due $($under $30$ days$)1\%$

$77,0001$ to $30$ days past due $4\%$

$22,00031$ to $60$ days past due $10\%$

$16,000$ Over $60$ days past due $60\%$

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