Estimating Doubtful Accounts Outlaw Bike Co. is a wholesaler of motorcycle supplies. An aging of the company's accounts receivable on December 31 and a historical analysis of the percentage of uncollectible accounts in each age category are as follows: Estimate what the proper balance of the allowance for doubtful accounts should be as of December 31. Age Class Not past due 1-30 days past due Outlaw Bike Co. Estimation of Uncollectible Accounts December 31 Balance Percent Uncollectible Estimated Uncollectible Accounts Amount $564,000 3/4% 62,000 3% 31-60 days past due 28,200 8% 61-90 days past due 20,300 18% 91-180 days past due 14,700 39% Over 180 days past due 10,700 80% Total $699,900 Entry for Uncollectible Accounts Outlaw Bike Co. is a wholesaler of motorcycle supplies. An aging of the company's accounts receivable on December 31 and a historical analysis of the percentage of uncollectible accounts in each age category are given below. Estimated Uncollectible Accounts Percent Estimated Uncollectible Accounts Amount Age Interval Balance Not past due $494,000 3/4 % $3,705 54,300 1,629 1-30 days past due 31-60 days past due 24,700 1,729 61-90 days past due 17,800 2,670 5,120 12,800 91-180 days past due Over 180 days past due 9,400 7,050 Total $613,000 $21,903 Assume that the allowance for doubtful accounts for Outlaw Bike Co. had a debit balance of $3,945 as of December 31. Journalize the adjusting entry for uncollectible accounts as of December 31. Dec. 31