Empire Bridal Boutique has a credit balance of $620 in its allowance for bad debts account as of December 31,20--. An analysis of the accounts receivable of Empire Bridal Boutique as of the same date, reveals the following

Age Inteval Balance Est. Percentage Uncollectible

Not due $63,000 2%

1-30 days past due $7,100 5%

31-60days past due $6,300 11%

Over 60 days past due $2,900 40%

Required:

1. Prepare an aging schedule as of December 31, 20--
2. Prepare the adjusting entry to record the Bad Debt Expense at the end of the year
3. Determine the net accounts receivables at December 31,20