Financial Accounting: P8-6A An aging analysis of Toshiro Corporation's accounts

Financial Accounting 
P8-6A 
An aging analysis of Toshiro Corporation's accounts receivable at December 31, 2008, showed the following; 
No. of Days Outstanding Estimated Percentage Uncollectible December 31 
2009 2008 
0-30 days 3% 120,000 110,000 
31-60 days 6% 52,000 43,000 
61-90 days 12% 31,000 26,000 
Over 90 days 20% 17,000 11,000 
Total $220,000 $190,000 

1. At December 31, 2008, the unadjusted balance in Allowance for Doubtful Accounts was a credit of $1,500. 
2. In 2009, $14,000 of accounts were written off as uncollectible and $1,500 of accounts previously written off were recovered. 

Instructions: 
a) Prepare an aging schedule to calculate the estimated uncollectible accounts at December 31, 2008 and 2009. Comment on the results. 
b) Record the adjusting entry relating to bad debts on December 31, 2008. 
c) Record the write-off of uncollectible accounts in 2009. 
d) Record the collection of accounts previously written off in 2009. 
e) Prepare the adjusting entry relating to bad debts on December 31, 2009. 
f) Calculate the net realizable value of Toshiro's accounts receivable at December 31, 2008 and 2009. 
g) Do you think that Toshiro was conservative when estimating its bad debts expense? Explain.