Winfrey Designs had an unadjusted credit balance in its Allowance for Doubtful Accounts at December 31, 2020, of $2,450. Required: a. Prepare the adjusting entry assuming that Winfrey estimates uncollectible accounts based on an aging analysis as follows.

December 31, 2020 Accounts Receivable			Age of Accounts Receivable	Expected Percentage Uncollectible
$	168,000		Not due (under 30 days)		1	%
	48,000		1 to 30 days past due		4	%
	11,500		31 to 60 days past due		10	%
	2,600		Over 60 days past due		60	%

b. During 2021, credit sales were $1,414,000; sales discounts taken were $27,000; accounts receivable collected were $1,206,100; and accounts written off during the year totalled $28,000. Prepare the adjusting entry required on December 31, 2021, to estimate uncollectible receivables assuming it is based on the following aging analysis.

December 31, 2021 Accounts Receivable			Age of Accounts Receivable	Expected Percentage Uncollectible
$	280,000		Not due (under 30 days)		1	%
	86,000		1 to 30 days past due		4	%
	25,000		31 to 60 days past due		10	%
	19,000		Over 60 days past due		60	%

c. Show how accounts receivable would appear on the December 31, 2021, balance sheet.