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I can get some help with the analysis part for Exercise 8-12? please refer to information from Exercise 8-11. Thanks.

Exercise 8-12 Estimating bad debt expense-percentage of receivables LO3 CHECK FIGURE: d. Accounts receivable (net) = $235,200 Refer to the information in Exercise 8-11. 8,000 proach for estimating uncollectibles. Exercise 8-11 Estimating bad debt expense-percentage of sales LCS CHECK FIGURE: d. Accounts receivable (net) = $232,700 Selected unadjusted account balances at December 31, 2020, are shown below for Demron Servicing. Account Debit Credit Accounts receivable.......... $70,000 Allowance for doubtful accounts $ 1.100 Sales (all on credit) ... 480,000 Sales discounts.. Required receivables a. Demron estimates that 1.5% of net credit sales will prove to be uncollectible. Prepare the adjusting entry required on December 31, 2020, to estimate uncollectible receivables. b. During 2021, credit sales were $620,000 (cost of sales $406,500); sales discounts of $12,000 were taken when accounts receivable of $440,000 were collected; and accounts written off during the year totalled $10,000. Prepare the entries for these transactions. c. Record the adjusting entry required on December 31, 2021 to estimate uncollectible receivables, assuming it is based on 1.5% of net credit sales. d. Show how accounts receivable would appear on the December 31, 2021, balance sheet. Analysis Component: Comment on the advantages and disadvantages of using the income statement ap- CHAPTER 8 Receivables Required a. Assume that Demron estimates uncollectible accounts as 2% of receivables. Prepare the adjusting entry required on December 31, 2020 to estimate uncollectible receivables. b. During 2021, credit sales were $620,000 (cost of sales $406,500); sales discounts taken were $12,000; accounts receivable collected were $440,000; and accounts written off during the year totalled $10,000. Prepare the entries to record these transactions. c. Record the adjusting entry required on December 31, 2021 to estimate uncollectible receivables, assuming it is based on 2% of receivables. d. Show how accounts receivable would appear on the December 31, 2021 balance sheet. Analysis Component: Comment on the advantages and disadvantages of using the balance sheet approach for estimating uncollectibles

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