At December 31, 2018, before any year-end adjustments, the Accounts Receivable balance of Foley Service, Inc. is $360,000. The Allowance for Uncollectible Accounts has a[n) 519,600 credit balance. Foley Service prepares the following aging schedule for Accounts Receivable: (Click the icon to view the aging schedule) Read the requirements Requirement 1. Based on the aging of Accounts Receivable, is the unadjusted balance of the allowance account adequate? Too high? Too low? First, calculate a revised allowance for uncollectible accounts amount and the adjusting entry amount (Round to the nearest dollar) - Data Table Allowance for Uncollectible Accounts: Credit balance needed 1-30 31-60 61-90 Age of Accounts Over 90 Subtotal Total Balance $360,000 Estimated uncollectible 1-30 Days $140,000 0.4 31.60 Days $110.000 4.09 61.90 Days $70,000 Over 90 Days $40,000 40.0 % 50% Loss Unadjusted balance Adjusting entry amount Print Done Enter any number in the edit felds and then click Check