Exercise 7-6 Aging of receivables method LO P2 Daley Company estimates uncollectible accounts using the allowance method at December 31. It prepared the following aging of receivables analysis. Days Past Due Total $635,000 Accounts receivable Percent uncollectible $409,000 2% 1 to 30 $103,000 3% 31 to 60 $49,000 6 % 61 to 90 $31,000 8 % Over 90 $43,000 11% a. Complete the below table to calculate the estimated balance of Allowance for Doubtful Accounts using the aging of accounts receivable method. Accounts Receivable Percent Uncollectible (%) % = % = Not due: 1 to 30: 31 to 60: 61 to 90: Over 90: Estimated balance of allowance for uncollectibles 01 b. Prepare the adjusting entry to record Bad Debts Expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $4,900 credit and $1,400 debit. View transaction list Journal entry worksheet