Yet Due Total $ 90,000 V Days Days Days 90 Days Past Due Past Due Past Due Past Due $ 90,000 $22,000 $26,000 Customer's Name Alton Group............. Filby's Electrical Service... GDP Servicing Parker's Electrical ...... Trenton Construction.. Xeon Developments.. Totals....... Percent uncollectible. Estimated uncollectible accounts.. 48,000 162,000 $120,000 42,000 80,000 80,000 15,000 55,000 30,000 25,000 $450,000 $230,000 $157,000 $15,000 $22,000 $26,000 $15,000 x 1% X 4% X 8% X 2596 X 6096 During the year 2011, the company had sales of $3,720,000, of which $38,000 were cash sales. The Allowance for Doubtful Accounts had an unadjusted debit bal- ance on December 31, 2011, of $3,050. Dec 31, 2011 A/R Balance is 450,4 Required Prepare the adjusting entry to estimate uncollectible accounts on December 31, 2011, under each of the following independent assumptions, and show the result- ing balance sheet presentation for accounts receivable: a. Bad debts are estimated to be 0.6% of credit sales. 5. Bad debts are estimated to be 4% of outstanding accounts receivable. Bad debts are based on an aging analysis (part of the required information is provided in the schedule above)