At December 31, 2018, before any year-end adjustments, the Accounts Receivable balance of White Electronics, Inc., is $330,000. The Allowance for Uncollectible Accounts has a(n) $20,800 credit balance. White 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: x x Credit balance needed Data Table Requirements 1-30 31-60 61-90 Age of Accounts Over 90 Total Balance Over 90 Days Subtotal 1-30 Days $130,000 0.4 % $330,000 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 White Electronics will report Accounts Receivable on its December 31 balance sheet. 31-60 Days $100,000 4.0 % 61-90 Days $70,000 5.0 % $30,000 60.0 % Less: Unadjusted balance Estimated uncollectible Adjusting entry amount Print Done Print Done