2 The schedule of aging accounts for a Company, at the end of the year 2020, appears below: Cument 1.30 days overdue 31-60 days overdue More than 50 days overdue Total Accounts Receivable $40,000 10,000 5.500 1800 57.300 Estimate % of Bad Debts 1% 5% 10% 20% The allowance was estimated by using the schedule of ageing accounts. The allowance account had a debit balance of $600, before the estimate was made. Required: Prepare the adjusting entry to record bad debts expense for 2020. (SHOW YOUR CALCULATIONS For the 109) ALTEN=410 M BIV twagraph xx 8 10pt r A I. x BY w 2.5p