Flounder Trading is a merchandising wholesaler that sells to corner stores in the community, Lately, because of the economic conditions, some of Flounder's customers have been experiencing financial difficulties and so Flounder has to pay a great deal of attention to the collection of accounts receivable. Before any year-end adjustments, the balance in Flounder's Accounts Receivable account was $635.000 and the Allowance for Doubtful Accounts had a credit balance of $35,000. The company uses an aging schedule to determine the total estimated uncollectible amounts at its year end, December 31 : Between31and45days80,00080% Between 46 and 60 days 53,00070% Between 61 and 75 days 23,00050% Over 75 days Total $635,00022,000 (a) Your answer is correct, Days Account Probability Estimated Outstanding Amount of percentage uncollectible Less than 16 days Between 16 and 30 days Between 31 and 45 days Between 46 and 60 days Between 61 and 75 days Between 61 and 75 days 23000 50% Over 75 days Total eTextbook and Media List of Accounts Attempts: 1 of 3 usec Prepare any necessary adjusting entry at the end of the year. (Credit occount titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter ofor the amounts. List debit entry before credit entry.)