3. 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 and estimates its bad debts for the current year to be $9,994. (Mark as 4%) Estimated Uncollectible Account Age Balance Percentage Current (not yet due) $96,000 1.0% 1-30 days past due.. 64,000 3.5 31-60 days past due.... 16,000 12.0 61-90 days past due..... 6,500 42.0 Over 90 days past due 3,200 67.0 Total $185,700 a) Prepare the adjusting journal entry to record bad debts expense for the current year. 5