At December 31, 2014, before any year-end adjustments, the Accounts Receivable balance of Digital Electronics Company is $370,000. The Allowance for Doubtful Accounts has a $21,500 credit balance Digital Electronics Company prepares The following aging schedule for Accounts Receivable Click the icon to view the aging schedule) Requirements 1. Based on the aging of Accounts Receivable, is the unadjusted balance of the allowance account adequate? 2. Make the entry required by the aging schedule 3. Show how Digital Electronics Company will report Accounts Receivable on its December 31 balance sheet Requirement 1. Based on the aging of Accounts Receivable, is the unadjusted balance of the allowance account adequate? Too high? Too low? Before we can assess whether the current balance of the allowance account is adequate, we first have to calculate a revised alowance for doubtful accounts amount. (Round to the nearest dollar) Allowance for Doubtful Accounts Credit balance needed 1-30 31-00 81-901 Over 50 Undated botance Aduating y ant The credit balance at December 31 in Alowance for Doug Accounts should be t The current balance is Requirement 2. Make the entry required by the aging schede (econd deals fret, then Exception from any joomal and Fast prepare the journal entry using the adjusting entry amount we calculated in the first p