3. Molina Company had a $700 credit balance in Allowance for Doubtful Accounts at December 31, 2015, before the current year's provision for uncollectible accounts. An aging of the accounts receivable revealed the following: Estimated Percentage Uncollectible Current Accounts $120,000 1% 1-30 days past due 20,000 3% 31-60 days past due 10,000 6% 61-90 days past due 10,000 12% Over 90 days past due 8.000 30% Total Accounts Receivable $168.000 Prepare the adjusting entry on December 31, 2015, to recognize bad debt expense