2. Lala Hotels has accounts receivable of $98,100 at March 31. An analysis of the accounts shows the following: Month of Sale 1-30 days late 30-60 days late 60-90 days late Over 90 days late Total Balance, March 31 $ 65,000 $ 17,600 $ 8,500 $ 7,000 $ 98,100 On March 31, Allowance for Doubtful Accounts has a credit balance of $1,200 prior to adjustments. The company uses the percentage of receivables basis for estimating uncollectible accounts. The company's estimate of bad debts is as follows: Age of Accounts 1-30 days 30-60 days 60-90 days Over 90 days Estimated Percentage Uncollectible 2% 5% 30% 50% Instructions: (a) Determine the total estimated uncollectibles (= What is the total amount we need have in our Allowance for Doubtful Accounts?) (b) Prepare the adjusting entry at March 31 to record bad debts expense (= How should we journalize the additional amount we need to put in our Allowance for Doubtful Accounts?)