Assume the following for XYZ Company at the end of the accounting period: $10,000 in accounts receivable that have been outstanding for less than 30 days (2% estimated uncollectible) $2,000 in accounts receivable that have been outstanding for more than 30 days (15% estimated uncollectible) The current balance of the allowance accounts is $100. XYZ uses the allowance method when accounting for bad debts, record each of the journal entries: At the end of the period, record the appropriate adjusting entry: A few weeks later, a $50 account is deemed uncollectible