Cato Ltd. has an Accounts Receivable amount of $340,200 and an unadjusted credit balance in Allowance for Doubtful Accounts of $9,700 at March 31. The company's accounts receivable and percentage estimates of its uncollectible accounts are as follows: Number of Days Outstanding 0-30 31-60 61-90 Over 90 Total Accounts Receivable $234,000 49,900 31,500 24,800 $340,200 Estimated Percentage Uncollectible 2% 10% 30% 50% (a) Your answer is correct Prepare an aging schedule to determine the total estimated uncollectibles at March 31. Age of Accounts Amount Estimated Uncollectible $ 4680 0-30 days $234,000 23 31-60 days 49.900 1036 4990 61-90 days 31.500 30% 9450 Over 90 days 24.800 50% 12400 $ 31520 Prepare the adjusting entry at March 31 to record bad debts expense. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Mar. 31 Bad Debts Expense Allowance for Doubtful Accounts Tryth and Media