Exercise 8-4 Menge Company has accounts receivable of $108,600 at March 31. Month of Sale March February January Prior to January Balance, March 31 $71,900 19,700 9,400 7,600 108,600 Average Age of Receivables Outstanding 16 days 48 days 73 days 110 days Credit terms are 2/10, n/30. At March 31, Allowance for Doubtful Accounts has a credit balance of $1,500 prior to adjustment. The company uses the percentage-of-receivables basis for estimating uncollectible accounts. The company's estimate of bad debts is shown below. Estimated Percentage Age of Accounts 1-30 days 31-60 days 61-90 days Over 90 days 3.0% 7.0% 23.0% 51.0% Determine the total estimated uncollectibles. Total estimated uncollectibles SHOW LIST OF ACCOUNTS LINK TO TEXT VIDEO: SIMILAR EXERCISE VIDEO: APPLIED SKILLS Prepare the adjusting entry at March 31 to record bad debt expense. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Mar. 31