Exercise for Accounts Receivable: TECHNOGYM management does not expect there to be any change in the collecta- bility of its credit sales related to its normal operations. On Dec. 31, 2016, the unad- justed balance of the Accounts Receivable balance was $17,607,500 and the Allow ance for Doubtful Accounts balance was $20,000 (credit). TECHNOGYM uses the Accounts Receivable approach to estimate bad debts. The aging schedule at Dec. 31 2016 is summarized below: Days outstanding of Accts Rec Est. Uncollectible 0.3% 0-30 days 40% 30-60 days 35% 0.8% 60-90 days 15% 10.0% 10% 30.0% 90 days Requirement 1: Develop an aging schedule to show your calculations of the total expected uncollectible amount for 2016. Requirement 2: Show your calculation of the appropriate dollar amounts, then show the adjusting journal entry (if any) that is needed on Dec. 31, 2016 related to this issue. Remember to show the journal entry in proper form