He Required information The following information applies to the questions displayed below. On December 31, Jarden Co.'s Allowance for Doubtful Accounts has an unadjusted credit balance of $14,500. Jarden prepares a schedule of its December 31 accounts receivable by age. Accounts Receivable $ 880,000 352,000 70,400 35,200 14,080 Age of Expected Percent Accounts Receivable Uncollectible Not yet due 1.25% 1 to 30 days past due 2.00 31 to 60 days past due 6.50 61 to 90 days past due 32.75 Over 90 days past due 68.00 Required: 1. Compute the required balance of the Allowance for Doubtful Accounts at December 31. Accounts Receivable Percent Uncollectible (#.##%) Estimated Uncollectible Not due: 1 to 30: 31 to 60: X 61 to 90: Over 90: X Estimated balance of allowance for uncollectibles 2. Prepare the adjusting entry to record bad debts expense at December 31. (Round percentage answers to nearest whole percent. Do not round intermediate calculations.) View transaction list Journal entry worksheet 1 Record the estimated bad debts. Note: Enter debits before credits General Journal Debit Credit Date Dec 31 Record entry Clear entry View general journal CE Required information The following information applies to the questions displayed below.) On December 31, Jarden Co.'s Allowance for Doubtful Accounts has an unadjusted credit balance of $14,500. Jarden prepares a schedule of its December 31 accounts receivable by age. Accounts Receivable $ 880,000 352,000 70,400 35,200 14,080 Age of Accounts Receivable Not yet due 1 to 30 days past due 31 to 60 days past due 61 to 90 days past due Over 90 days past due Expected Percent Uncollectible 1.250 2.00 6.50 32.75 68.00 3. On June 30 of the next year, Jarden concludes that a customer's $4,250 receivable is uncollectible and the account is written off. Does this write off directly affect Jarden's net income? Affects Jarden's net income