2011, balance sheet given the facts In part IL. Quisp Company has credit sales of $3.5 million for year 2011. At December 31, 2011, the companys Allowance for Doubtful Accounts has an unadiusted debit balance of $4,100. Quisp prepares as debit balance of $4,100. Quisp prepares a schedule of its 31, 2011, accounts receivable by age. On the hasis of past experience, it estimates the percent of receivables in each age category that will become uncollectible. This information is su come uncollectible. This information is summarized here. Arial El Edt Yew Insert Format Tools Data Accounting Window Heb IDAS . LT 21 3100% December 31, 2011 Age of Accounts Receivable Accounts Receivable $296,400 Not yet due 177,800 1 to 30 days past due 58,000 31 to 60 days past due 7,600 61 to 90 days past due 3,700 Over 90 days past due 10 BIU Expected Percent Uncollectible 2.0% 4.0 8.5 39.0 82.0 8 Sheet1 Shen Required 7. Compute the required balance of the Allowance for Doubtful Accounts at December 31, 2011, using the aging of accounts receivable method. 2. Prepare the adjusting entry to record bad debts expense at December 31, 2011