At December 31, 2021, before any year-end adjustments, the Accounts Receivable balance of Stenner's Electronics, Inc., is $340,000. The Allowance for Uncollectible Accounts has a(n) $22,300 credit balance. Stenner's 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 Requirements 31-60 Subtotal 61-90 Over 90 Less: Unadjusted balance 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 Stenner's Electronics will report Accounts Receivable on its December 31 balance sheet. Adjusting entry amount Data table Total Balance $340,000 Estimated uncollectible Print Done Age of Accounts 1-30 Days 31-60 Days $140,000 0.6 % $100,000 2.0% 61-90 Days $70,000 10.0 % Over 90 Days $30,000 60.0 % - >