1. Calculate the amount of allowance of Doubtful accounts that should appear in December 31, of the current year, balance sheet. SHOW YOUR WORK HERE. 2. Prepare the adjusting journal entry to record the bad debts expense for the current year into the general journal. When finished upload your general journal to this problem.

D Question 6 10 pts A company has the following unadjusted account balance at December 31 of the current year: Allowance for Doubtful Accounts of $3,400 (debit balance). This company uses the aging of accounts receivable to estimate its bad debts. The following aging schedule reflects its accounts receivable at the current year end: Estimated Account Age Balance Uncollected Percentage Current (not yet due) $396,400 2.0% 1-30 days past due 277,800 4.0 31-60 days past due 48,000 8.5 61-90 days past due 6,600 39.0 Over 90 days past due 2,800 82.0 Total $731,600