X Company categorizes its account receivables based on their age Amount Estimated Percentage Age of Accounts uncollectible 1-30 days $ 200,000,000 3% 31-60 days $ 120,000,000 5% 61-90 days $ 85,000,000 9% Over 90 days $ 75,000,000 12% % Instructions: If X Company uses allowance method for their uncollectible accounts: 1. Prepare the adjusting entry if its bad debt expense assumes to be 2,5% of net sales. 2. Prepare the adjusting entry if its bad debt expense assumes to be 11% of Account Receivables. 3. Prepare the adjusting entry if its bad debt expense assumption is based on age of accounts uncollectible. X Company categorizes its account receivables based on their age Amount Estimated Percentage Age of Accounts uncollectible 1-30 days $ 200,000,000 3% 31-60 days $ 120,000,000 5% 61-90 days $ 85,000,000 9% Over 90 days $ 75,000,000 12% % Instructions: If X Company uses allowance method for their uncollectible accounts: 1. Prepare the adjusting entry if its bad debt expense assumes to be 2,5% of net sales. 2. Prepare the adjusting entry if its bad debt expense assumes to be 11% of Account Receivables. 3. Prepare the adjusting entry if its bad debt expense assumption is based on age of accounts uncollectible