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E8-5 Prepare aging schedule and record bad debts. (LO 2) AP Rowen Company has accounts receivable of $241,000 at September 30, 2017. An analysis of the accounts shows the following: Month of Sale Balance September $170,000 August 35,700 July 20,000 April, May, and June 15,300 $241,000 Credit terms are 2/10, n/30. The unadjusted balance in the Allowance for Doubtful Accounts on September 30, 2017, is $1,400 debit. The company uses an aging schedule to estimate uncollectible accounts. The company's percentage estimates of bad debts are as follows: Number of Days Outstanding Estimated % Uncollectible 0-30 1% 31-60 10% 61-90 25% Over 90 60% Instructions (a) Prepare an aging schedule to determine the total estimated uncollectible accounts at September 30, 2017. (b) What is the net realizable value of the accounts receivable at September 30, 2017? (c) Prepare the adjusting entry at September 30 to record bad debt expense