At December 31, 2016, before any year-end adjustments, the Accounts Receivable balance of Turf Trimmers, Inc., is $350,000. The Allowance for Doubtful Accounts has an $18,700credit balance. Turf Trimmers prepares the following aging schedule for Accounts Receivable:

1. Based on the aging of Accounts Receivable, is the unadjusted balance of the allowance account adequate? Too high? Too low?
2. Make the entry required by the aging schedule. Prepare a T-account for the allowance.
3. Show how Turf Trimmers will report Accounts Receivable on its December 31 balance sheet.

Total Balance Age of Accounts 31-60 Days 61-90 Days $110,000 $70,000 4.0% 9.0% 1-30 Days $140,000 0.5% $350,000 Estimated uncollectible Over 90 Days $30,000 40.0%