1. The Allowance for Doubtful Account has a $20,500 credit balance prior to adjustment (unadjusted balance). Net credit sales during the year are $2,600,000 and % of 20% are estimated to be uncollectible. Accounts Receivable has a balance of $1,800,000 at the ending of the year. Show the allowance account with the unadjusted balance, adjusting entry and adjusted balance (5 pts); and, calculate the amount of the account receivables that the business expects/estimates will be collectible (2 pts). Calculate the estimated uncollectible account receivables based on the partial aging schedule below (3 pts) and journalize the adjusting entry to record bad debts on Dec 31, 2021 assuming the Allowance for Doubtful Accounts has a $15,250 credit unadjusted balance (4 pts). Accounts Age Receivable (months) Estimate of percent uncollectibles Estimated Uncollectibles $200,000 Less than 1 5% $85,000 1-3 15% $50,000 3-6 25% $12,000 6-9 65% $8,000 9-12 90% Total 3. Date Dec 31, 2021 Details Dr $ Cr $