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Exercise 7-15 (Algo) Calculate uncollectible accounts using the aging method; record adjustments [LO7-5, 7-6] Zuo Software categorizes its accounts receivable into four age groups for

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Exercise 7-15 (Algo) Calculate uncollectible accounts using the aging method; record adjustments [LO7-5, 7-6] Zuo Software categorizes its accounts receivable into four age groups for purposes of estimating its allowance for uncollectible accounts. 1. Accounts not yet due =$450,000; estimated uncollectible =5%. 2. Accounts 130 days past due =$56,300; estimated uncollectible =9%. 3. Accounts 31-90 days past due =$45,000; estimated uncollectible =13% 4. Accounts more than 90 days past due =$33,800; estimated uncollectible =17%. At 12/31/2024, before recording any adjustments, Zuo has a credit balance of $23,400 in its allowance for uncollectible accounts. Required: 1. Estimate the appropriate 12/31/2024 balance for Zuo's allowance for uncollectible accounts. 2. What joumal entry should Zuo record to adjust its allowance for uncollectible accounts? 3. Calculate Zuo's 12/31/2024 net accounts receivable balance

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