Exercise 7-16 (Static) Aging of Receivables Schedule LO P3 Following is a list of credit customers along with their amounts owed and the days past due at December 31. Also shown are five classifications of accounts receivable and estimated bad debts percent for each class. 0 1% Percent uncollectible Days Past Due 31 to 60 5% 1 to 30 3% 61 to 90 8% Over 90 12% Days Past Due 12 Customer BCC Company Lannister Company Mike Properties Ted Reeves Jen Steffens Accounts Receivable $ 4,000 1,000 5,000 500 2,000 107 72 35 1. Create an aging of accounts receivable schedule of accounts receivable by age similar to the table given above. Calculate the estimated balance for the Allowance for Doubtful Accounts. 2. Assuming an unadjusted credit balance of $100, record the required adjustment to the Allowance for Doubtful Accounts. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Create an aging of accounts receivable schedule of accounts receivable by age similar to the table given above. Calculate the estimated balance for the Allowance for Doubtful Accounts. Estimated balance for Allowance for Doubtful Accounts