5 (b)Prepare the adjusting entry at March 31, 2022, to record bad debt expense. (Credit account titles are automatically indented whenamount is entered. Do not indent manually)DateMar. 31e Textbook and MediaList of AccountsAccount Titles and ExplanationSave for LaterDebitCreditAttempts: 0 of 6 usedSubmit Answer Pharoah Company has accounts receivable of $104,500 at March 31, 2022. Credit terms are 2/10, n/30. At March 31, 2022, there is a$1,300 credit balance in Allowance for Doubtful Accounts prior to adjustment. The company uses the percentage-of-receivables basisfor estimating uncollectible accounts. The company's estimates of bad debts are as shown below.Age of AccountsCurrent1-30 days past due31-90 days past dueOver 90 days past due(a)2022Your answer is correct.$62,10025.800List of AccountsBalance,March 319,3002.4007,300 1,100$104,500 $86,500Total estimated uncollectibleseTextbook and Media2021$75,0008.000Estimated PercentageUncollectibleDetermine the total estimated uncollectibles at March 31, 20223%7%1000925%55%

ALLOWANCE FOR DOUBTFUL DEBT ACCOUNT Allowance for Doubtful debt Account is Considered as Contra…

(b) Prepare the adjusting entry at March 31, 2022, to record bad debt expense. (Credit account titles are automatically indented when amount is entered. Do not indent manually) Date Mar. 31 e Textbook and Media List of Accounts Account Titles and Explanation Save for Later Debit Credit Attempts: 0 of 6 used Submit Answer