Aging of Accounts Receivable The Pathway Company's accounts receivable reveal the following balances by age category: Age of Account Receivable Balance 0-30 days 31-60 days 61-90 days 91-120 days $750,000 150,000 80,000 40,000 $1,020,000 The allowance for uncollectible accounts has an existing positive, (credit) balance of $30,600. 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 31-60 days 0.50% 1.00% 61-90 days 10.00% 91-120 days 60.00% Required Calculate the projected new balance for (a) the allowance for uncollectible accounts and (b) the bad debts expense. (a) Allowance for uncollectible accounts $ (b) Bad debt expense 0 0