At December 31, 2021, before any year-end adjustments, the Accounts Receivable balance of TM Manufacture, Inc., is $310,000. The Allowance for Uncollectible Accounts has a(n) $23,500 credit balance. TM Manufacture 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 7,200 31-60 2,700 61-90 6,000 20,000 Over 90 Subtotal 35900 Less: Unadjusted balance Adjusting entry amount Requirements 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 TM Manufacture will report Accounts Receivable on its December 31 balance sheet.