Exercise Follow the directions below assuming the accounts receivable balance is $570,000. a. Estimate the balance of the Allowance for Doubtful Accounts assuming the company uses 45% of total accounts receivable to estimate uncollectibles, instead of the aging of receivables method. 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 $12,000 credit