E8-6 (Algo) Computing Bad Debt Expense Using Aging of Accounts Receivable Method [LO 8-2] Young and Oid Corporation (YOC) uses two aging categories to estimate uncollectible accounts. Accounts less than 60 days are considered young and have a 3% uncollectlble rate. Accounts more than 60 days are considered old and have a 40% uncollectible rate. Required: 1. If YOC has $117,000 of young accounts and $330,000 of old accounts, how much should be reported in the Allowance for Doubtful Accounts? 2. If YOC's Allowance for Doubtful Accounts currently has an unadjusted credit balance of $33,000, how much should be credited to the account? 3. If YOC's Allowance for Doubtful Accounts has an unadjusted debit balance of $4,300, how much should be credited to the account