E5-41. Estimating Uncollectible Accounts and Reporting Accounts Receivable LO5 Collins Company analyzes its accounts receivable at December 31 and arrives at the age categories below along with the percentages that are estimated as uncollectible. The balance of the allowance for uncollect ible accounts is $1,100 on December 31, before any adjustments MB Age Group Accounts Receivable Estimated Loss % 61-120 days past due 121-180 days past due Over 180 days past due. . . . 40,000 2 27,000 5 4,000 10 9,000 25 a.What amount of bad debts expense will Collins report in its income statement for the year? b.Use the financial statement effects template to record Collins' bad debts expense for the year c.What is the balance of accounts receivable on its December 31 balance sheet