Aging of Accounts Receivable The Miller Company's accounts receivable reveal the following balances by age category: Age of Account Receivable Balance $320,000 31-60 days 72,000 61-90 days 32,000 91-120 days 16,000 $440,000 0-30 days The allowance for uncollectible accounts has an existing positive balance of $13,680. The company's internal auditors suggest that the following percentages be used to estimate the amount of outstanding receivables that will eventually prove to be uncollectible. 0-30 days 0.50% 31-60 days 1.00% 61-90 days 10.00% 91-120 days 70.00% Required Calculate the projected new balance for (a) the allowance for uncollectible accounts and (b) the bad debts expense. (a) Allowance for uncollectible accounts $ 0 (b) Bad debt expense $ 0