Spade agency separates its accounts receivable into three age groups for purposes of estimating the percentage of uncollectible accounts. in addition, the balance of allowance for uncollectible accounts before adjustment is $7,500 (credit).accounts not yet due = $38,000; estimated uncollectible = 4%.accounts 1–60 days past due = $23,000; estimated uncollectible = 25%.accounts more than 60 days past due = $18,000; estimated uncollectible = 50%.required: 1. compute the total estimated uncollectible accounts.

Wilson company paid $5,000 for a 4-month insurance premium in advance on november 1, with coverage beginning on that date. the balance in the prepaid insurance account before adjustment at the end of the year is $5,000, and no adjustments had been made previously. the adjusting entry required on december 31 is: (a) debit cash. $5,000: credit prepaid insurance. $5,000. (b) debit prepaid insurance. $2,500: credit insurance expense. $2500. (c) debit prepaid insurance. $1250: credit insurance expense. $1250. (d) debit insurance expense. $1250: credit prepaid insurance. $1250. (e) debit insurance expense. $2500: credit prepaid insurance. $2500.