E5-20A (similar to) Question Help At December 31, 2018. before any year end adjustments, the Accounts Receivable balance of Turf Trimmers, Inc., is $330.000. The Allowance for Uncollectible Accounts has ain) $20,600 credit balance. Turf Trimmers 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 Data Table 1-30 31-60 Age of Accounts 61-30 Over 90 Over 90 Days Total Balance $330.000 1-30 Days $130,000 0.3% 31-60 Days $100,000 61-90 Days $70,000 Subtotal $30,000 50.0 % Estimated uncollectible 4.0 % 9.0% Enter any number in the edit fields and then click Check Print 5 parts remaining Done Check Answer At December 31, 2018, before any year-end adjustments, the Accounts Receivable balance of Turf Trimmers, Inc., is $330,000. The Allowance for Uncollectible Accounts has a[n) $20,600 credit balance. Turf Trimmers prepares the following aging schedule for Accounts Receivable: (Click the icon to view the aging schedule.) Read the requirements Allowance for Uncollectible Accounts: Credit balance needed 1-30 31-60 61-90 Over 90 Subtotal Less: Unadjusted balance Adjusting entry amount Enter any number in the edit fields and then click Check