Estimating Bad Debts Expense and Reporting of Receivables At December 31, 2013, Sunil Company had a balance of $150,000 in its accounts receivable and an unused balance of $1,680 in its allowance for uncollectible accounts. The company then aged its accounts as follows: Current $121,600 0-60 days past due 17,600 61-180 days past due 7,200 Over 180 days past due 3,600 Total accounts receivable $150,000 The company has experienced losses as follows: 1% of current balances, 5% of balances 0-60 days past due, 15% of balances 61-180 days past due, and 40% of balances over 180 days past due. The company continues to base its provision for credit losses on this aging analysis and percentages. c. Set up T-accounts for both Bad Debts Expense and for the Allowance for Uncollectible Accounts. Enter any unadjusted balances along with the dollar effects of the information described (including your results from parts a and b). Bad Debts Expense (E) Balance 0 0 a. 0 0 Balance 0 0 Allowance for Uncollectible Accts. (XA) Balance 0 0 a. 0 0 Balance 0 0