Grimm Company performed an agad listing of their accounts receivable as of December 31 as presented below 1-30 Days 31-60 Days 61-90- Days Over 10 Days Total Receivables Amount $100,000 $70,000 $30,000 58.000 $200,000 Estimated Uncollectible 2% 4% 6% 30% Management at Gimim has estimated the amount of uncollectible (doubtful as presented in the table above Grimm company is trying to determine how to present the Accounts Receivable on the year end financial statement Before any adjustment is made the balance in the slowance for uncollectible accounts is a credit balance of $3,400 Required: 1 Calculate the estimated balance in the Allowance for uncollectible accounts 2. Prepare the ontry to adjust the allowance account to the correct balance 3. Prepare a partial balance sheet showing how the Accounts receivable and Allowance for uncollectible accounts will be presented as of December 31