At December 31, 2021, before any year-end adjustments, the Accounts Receivable balance of Solar Power Manufacturing, Inc., is $310,000. The Allowance for Uncollectible Accounts has a(n) $18,100 credit balance. Solar Power Manufacturing 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 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 Solar Power Manufacturing will report Accounts Receivable on its December 31 balance sheet. Data table Total Balance $310,000 Estimated uncollectible Age of Accounts 1-30 Days 31-60 Days 61-90 Days Over 90 Days $120,000 $90,000 $60,000 $40,000 0.3% 3.0% 6.0% 40.0 %