A company has the following aging schedule of its accounts receivable with the estimated percent uncollectible: Amount Receivable $175,000 $ 40,000 $ 10,000 $ 5,000 Age Group Not yet due 0-60 days past due 61-120 days past due More than 120 days past due Estimated Percent Uncollectible 4% 10% 30% 60% Assuming the balance of Allowance for Uncollectible Accounts is $3,000 (credit) before adjustment, which of the following would be recorded in the year-end adjusting entry?

Assuming the balance of Allowance for Uncollectible Accounts is $3,000 (credit) before ad) ustment, which of the following would be recorded in the year-end adjusting entry? Multiple Choice Credit Allowance for Uncollectible Accounts for $20,000. Debit Allowance for Uncollectible Accounts for $14,000. Debit Bad Debt Expense for $14,000. Credit Allowance for Uncollectible Accounts for $17,000