(8 points) At December 31 of the current year, the accounts receivable balance of Foley, Inc. is $235,000. The allowance for bad debts account has a $23,330 debit balance. Foley prepares the following aging schedule for its accounts receivable: 1-30 Days 31-60 Days Age of Accounts 61-90 Over 90 Days Days Total Balance Accounts receivable $85,000 $70,000 $45,000 $35,000 $235,000 Est. percent uncollectible 0.08 3.00 10.00 52.00 Est. total uncollectible $680 $2,100 $4,500 $18,200 $25,480 a (2 points) Journalize the adjusting journal entry for bad debts. Dr. Cr . b. (3 points) Show the T account for Allowance for Bad Debts after the adjusting entry is made. Allowance for Bad Debts