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Use the information presented in in the prior exercise for Wilton, Inc.
a. Instead of an Allowance for Doubtful Accounts Balance of $2,400 credit, the balance was$1,900 debit. Assume that 10% of accounts receivable will prove to be uncollectible. Prepare the entry to record bad debt expense.
b. Instead of estimating uncollectibles based on a percentage of receivables, assume Wilton prepares an aging schedule that estimates total uncollectible accounts at $24,600. (Assume an allowance of$2,400 credit) Prepare the entry to record bad debt expense.
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