At December 31, 2018, before any year-end adjustments, the Accounts Receivable balance of Digital Electronics, Inc., is $330,000. The Allowance for Uncollect Accounts has a(n) $21,100 credit balance. Digital Electronics 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.) Allowance for Uncollectible Accounts: Credit balance needed 1-30 31-60 61-90 Over 90 Subtotal Less: Unadjusted balance Adjusting entry amount Age of Accounts Total Balance $330,000 1-30 Days $130,000 0.6% 31-60 Days $100,000 2.0% 61-90 Days $70,000 8.0 % Over 90 Days $30,000 60.0 % 20% Estimated uncollectible 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 Digital Electronics will report Accounts Receivable on its December 31 balance sheet