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please fill the blank spots. The Wilson Company estimates uncollectible accounts using...

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Accounting

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The Wilson Company estimates uncollectible accounts using the allowance method at December 31. It prepared the following aging of receivables analysis. Days Past Due Description Total 0 1 to 30 31 to 60 61 to 90 Accounts Receivable $570,000 $396,000 $90,000 $36,000 $18,000 Percent Uncollectible 2% 5% 7% Over 90 $30,000 10% 1% a. Estimate the balance of the Allowance for Doubtful Accounts using the aging of accounts receivable. b. Prepare the adjusting entry to record Bad Debts Expense using the estimate from part a. Assume unadjusted balance in the Allowance for Doubtful Accounts is a $3,600 credit. c. Prepare the adjusting entry to record Bad Debts Expense using the estimate from part a. Assume unadjusted balance in the Allowance for Doubtful Accounts is a $100 debit. Amount Answer a. Answer b. Dec. 31 Accounts Dr. Amount Cr. Amount Answer c. Dec. 31 Accounts Dr. Amount Cr. Amount

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