Current Attempt in Progress

Molina Company had a $$700$ credit balance in Allowance for Doubtful Accounts on December $31,2027,$ before the current year's provision for uncollectible accounts. An aging of the accounts receivable revealed the following:

$\backslash$table$[[,,\backslash$table$[[$Estimated Percentage$],[$Uncollectible$]]],[$Current Accounts,$$120,000,1\%$