During 2024, credit sales were $1,177,000; sales discounts taken were $22,000; accounts receivable collected were $1,001,100; and accounts written off during the year totalled $23,000. Prepare the adjusting entry required on December 31, 2024, to estimate uncollectible receivables assuming it is based on the following aging analysis. December 31, 2024 Accounts Receivable Age of Accounts Receivable Expected Percentage Uncollectible $ 230,000 Not due (under 30 days) 1 % 71,000 1 to 30 days past due 4 % 20,000 31 to 60 days past due 10 % 14,000 Over 60 days past due 60 %

Record the estimate for uncollectible accounts.