16: (2 Points) Company B also uses the Analysis of Receivables method. However, Management has asked us to take a look at the Income Statement Impact if we change the Uncollectible Percentages for Each Budget of Aging. The aging schedule looks like the following: Customer Total Due Current 1-60 Past Due 61+ Past Due 1,000 1,000 1,500 1,500 300 800 2,000 2,000 500 500 Total: 5,800 2,800 1,000 2,000 Aging Category As Is Proposed Current (Not past due) 3% 2% 1 - 60 past due 5% 4% 61+ days past due 9% 8% The balances in the accounts before any adjustments are as follows: current Sales are $400,000, Allowance for Doubtful Accounts has a Credit balance of $250, and bad debt expense has a debit balance of $2,000. What would be the adjusting entry under the As Is Calculation? You may omit the date, account numbers and descriptions in the journal entry. What would be the adjusting entry under the Proposed Calculation?: You may omit the date, account numbers and descriptions in the journal entry