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Dave's Manufacturing Company has a past history of uncollectible accounts by age category as shown...

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Accounting

Dave's Manufacturing Company has a past history of uncollectible accounts by age category as shown below:
Age Class Balance % Uncollectible
Current $1,217,000 0.9%
1-30 days past due $416,000 1.8%
31-60 days past due $237,000 4.5%
61-90 days past due $125,000 11.2%
91-120 days past due $79,000 32.5%
Over 120 days past due $55,000 75.0%
A) Estimate the allowance for doubtful accounts based on the aging of receivables schedule.
B) Show the journal entry needed to be made assuming the current allowance for doubtful accounts balance is $47,527.
Account

**Please show all formulas/equations!

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