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 $40,000 15,000 2,000 800 & 0.5 5 15.0 80.0 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.