A summary of London Fashion's December $31,2024,$ accounts receivable aging schedule is presented below along with the estimated percent uncollectible for each age group: Age Group $0-60$ days $61-90$ days $91-120$ days Over $120$ days Amount $$40,00015,0002,000800$ & $0\mathrm{.}515\mathrm{.}080\mathrm{.}0$ The allowance for uncollectible accounts had a balance of $$1,600$ at January $1,2024.$ During the year, bad debts of $$1,150$ were written off. Required $($use excel$)$: $($a$)$ Calculate what the allowance for doubtful accounts should be$.($b$)$ Show what the balance in the allowance account currently is $($before your adjustment$).($c$)$ Prepare the $2024$ journal entry to adjust the allowance for uncollectible accounts.

$($a$)$ Calculating the allowance for doubtful accounts with the correct percentages:$(0-60)$ days: $($ $$40,000\backslash$times $0\mathrm{.}5\%=$ $$200)$

$61-91$ days: $($ $$15,000\backslash$times $1\mathrm{.}5\%=$ $$225)(91-120)$ days: $($ $$2,000\backslash$times $15\mathrm{.}0\%=$ $$300)$Over $(120)$ days: $($ $$800\backslash$times $80\mathrm{.}0\%=$ $$640)$