28) A company has the following unadjusted account balances at December 31, of the current year; Accounts Receivable of $185,700 and Allowance for Doubtful Accounts of $1,600 (credit balance). The company uses the aging of accounts receivable to estimate its bad debts. The following aging schedule reflects its accounts receivable at the current year-end: Estimated Uncollectible Account Age Balance Percentage Current (not yet due) $96,000 1.0% 1-30 days past due 64,000 2.5% 30-60 days past due 16,000 11.0% 61-90 days past due 6,500 37.0% Over 90 days past due 3,200 70.0% Tota $185,700 1. Calculate the amount of the Allowance for Doubtful Accounts that should appear on the December 31, of the current year, balance sheet. 2. Prepare the adjusting journal entry to record bad debts expense for the current year