Anber Evraets: Attempt 1 3 Question 6 (4 points) Kiley Company had a $600 credit...
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Anber Evraets: Attempt 1 3 Question 6 (4 points) Kiley Company had a $600 credit balance in Allowance for Doubtful Accounts at December 31, 2020, before the current year's provision for uncollectible accounts. An aging of the accounts receivable revealed the following: 6 9 Estimated Percentage Uncollectible 1% 3% Estimated Uncollectible Amount $120,000 12,000 12 10,000 6% Current Accounts 1-30 days past due 31-60 days past due 61-90 days past due Over 90 days past due Total Accounts Receivable 5,000 12% 8,000 30% $155,000 Instructions (a) Calculate the estimated uncollectible amount and prepare the adjusting entry on December 31, 2020, to recognize bad debts expense. From your calculations from the previous problem, and considering that the Allowance for Doubtful Accounts has a $600 credit balance, record the adjusting entry on December 31, 2020 below in the space provided. Indent the credit account title, and amount. A
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