Exercise 251 (Part Level Submission) Hachey Company has accounts receivable of $95,100 at March 31, 2017. An analysis of the accounts shows these amounts. Month of Sale March February December and January November and October Balance, March 31 2017 2016 $65,000 $75,000 12,600 8,000 10,100 2,400 7,400 1,100 $95,100 $86,500 At March 31, 2017, there is a $2,500 balance in Allowance for Doubtful Accounts prior to adjustment. The company uses the percentage of receivables basis for estimating uncollectible accounts. The company's estimates of bad debts are as shown below Estimated Percentage Uncollectible 2% Age of Accounts Current 1-30 days past due 31-90 days past due Over 90 days past due Your answer is correct. Determine the total estimated uncollectibles. Total estimated uncollectibles 8407 (b) Using a tabular summary, enter the March 31, 2017 balances for Accounts Receivable and Allowance for Doubtful Accounts and prepare the adjustment at March 31, 2017, to record bad debts expense. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Assets = Liabilities + Stockholder's Equity Retained Earnings Accounts Receivable Allow. For Doubt. Accounts Accounts Payable. Common Stock Rev. . Exp. - Div. 3/31/2017 bal. Mar. 31 Bad debt expense