7-10 (Algo) Aging of receivables method Net Zero Products, a wholesaler of sustainable raw materials, prepares the following aging of receivables analysis. Accounts receivable Percent uncollectible Total 0 $ 150,000 $ 90,000 1 to 30 $ 28,000 Days Past Due 31 to 60 $ 12,000 61 to 90 $ 9,000 Over 90 $ 11,000 1% 3% 5% 8% 11 1. Estimate the balance of the Allowance for Doubtful Accounts using the aging of accounts receivable method. 2. Prepare the adjusting entry to record bad debts expense assuming the unadjusted balance in the Allowance for Doubtful Accounts is a $2,000 credit. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the adjusting entry to record bad debts expense assuming the unadjusted balance in the Allowance for Doubtful A $2,000 credit. View transaction list View journal entry worksheet No Date General Journal 1 December 31 Bad debts expense Allowance for doubtful accounts Debit Credit