Adventure Company uses the aging of accounts receivable method to estimate Bad Debt Expense. The balance of each account receivable is aged on the basis of three categories as follows: (1) 1-30 days old, (2) 30-90 days old, and (3) more than 90 days old. Based on experience, management has estimated what portion of receivables of a specific age will not be paid as follows: (1) 1%, (2) 15%, and (3) 37%, respectively. At December 31, 2016, the unadjusted credit balance in the Allowance for Doubtful Accounts was $230. The total Accounts Receivable in each age category were: (1) 1-30 days old, 561,000, (2) 30-90 days old, $16,000, and (3) more than 90 days old, $4,000. Required: a. Calculate the estimate of uncollectible accounts at December 31, 2016. Estimated uncollectible accounts b. Prepare the appropriate adjusting entry dated December 31, 2016. (If no entry is required for a transactionlevent, select "No Journal Entry Required in the first account field.) View transaction list Journal entry worksheet Record the adjusting entry on December 31, 2016. Note: Enter debits before credits General Journal Debit Credit Date December 31, 2016