Following is a list of credit customers along with their amounts owed and the days past due at December $31.$ Following that list are five classifications of accounts receivable and estimated bad debts percent for each class.

Days Past Due

$01$ to $3031$ to $6061$ to $90$ Over $90$

Percent uncollectible $1\%3\%5\%8\%12\%$

Customer Accounts Receivable Days Past Due

BCC Company $ $4,40012$

Lannister Company $1,4000$

Mike Properties $5,400114$

Ted Reeves $70071$

Jen Steffens $2,40039$

Create an aging of accounts receivable schedule of accounts receivable by age similar to the table given above. Calculate the estimated balance for the Allowance for Doubtful Accounts.

Assuming an unadjusted credit balance of $$140,$ record the required adjustment to the Allowance for Doubtful Accounts.