Balance Age of Receivable Estimated Percentage Uncollectible $194,000 Under 30 days 0.8% 119,000 30-60 days 2.0% 73,000 61-120 days 5.0% 41,000 121-240 days 20.0% 25,000 241-360 days 35.0% 19,000 Over 360 days 60.0% $471,000 Required: 1. Use the preceding analysis to compute the estimated amount of uncollectible receivables. 2. What is the net realizable value of Cowen's accounts receivable? 3. Prepare the journal entry to record Cowen's estimated uncollectibles, assuming the balance in Allowance for Doubtful Accounts prior to adjustment is: A. O B. $3,100 (debit) C. $2,500 (credit)