Aging Method On January 1, Hungryman Inc. has the following balances for accounts receivable and allowance for doubtful accounts G Accounts Receivable $241,000 Allowance for Doubtful Accounts (a credit balance) 40,970 During the year, Hungryman had $1,080,000 of credit sales, collected $712,800 of accounts receivable, and wrote off $37,700 of accounts receivable as uncollectible. At year end, Hungryman performs an aging of its accounts receivable balance and estimates that $50,000 will be uncollectible. Required: 1. Calculate Hungryman's preadjustment balance in accounts receivable on December 31. 2. Calculate Hungryman's preadjustment balance in allowance for doubtful accounts on December 31. 3. Prepare the necessary adjusting entry for the year. If an amount box does not require an entry, leave it blank. Check My Work 3 more Check My Work Previous Next>> A Email Instructor Save and Exit Submit Assignment for Grading