8. Suppose your company has accounts receivable of $241,000 as of March 31". An analysis of the accounts shows the following: Month of Sale March February January Prior to January Totals Balance as of March 31st Estimated Uncollectible % $140,000 $37,000 $38,000 $26,000 241,000 4% 7% 22% 45% Credit terms are 2/10, n/30. At March 31st, Allowance for Doubtful Accounts has a credit balance of $4,300 prior to adjustment. Prepare the adjusting entry at March 31" to record "bad debts" expense, and the "allowance for doubtful accounts" contra asset, using the "aging, percentage of receivables" method.