Accounting

Zuo Software categorizes its accounts receivable into four age groups for purposes of estimating its allowance for uncollectible accounts. 1. Accounts not yet due = $255,000; estimated uncollectible = 20%. 2. Accounts 130 days past due = $31,900; estimated uncollectible = 23%. 3. Accounts 3190 days past due = $25,500; estimated uncollectible = 26% 4. Accounts more than 90 days past due = $19,100; estimated uncollectible = 30%. At 12/31/2021, before recording any adjustments, Zuo has a credit balance of $21,400 in its allowance for uncollectible accounts. Required: 1. Estimate the appropriate 12/31/2021 balance for Zuo's allowance for uncollectible accounts. 2. What journal entry should Zuo record to adjust its allowance for uncollectible accounts? 3. Calculate Zuo's 12/31/2021 net accounts receivable balance. Required 1 Required 2 Required 3 Estimate the appropriate 12/31/2021 balance for Zuo's allowance for uncollectible accounts. Balance in allowance for uncollectible accounts Required 1 Required 2 Required 3 What journal entry should Zuo record to adjust its allowance for uncollectible accounts? (If no entry is re transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 Record the adjustment allowance for uncollectible ts. Note: Enter debits before credits. Event General Journal Debit Credit 1 Record entry Clear entry View general journal Required 1 Required 2 Required 3 Calculate Zuo's 12/31/2021 net accounts receivable balance. Balance in net accounts receivable