In-class: Receivable On 31 December 2021, the company's allowance for doubtful accounts has an unadjusted credit balance of $1,000. The company prepared the following aging of accounts receivable: The company estimates that receivables 0-30 days old have a 2% chance of noncollection, receivables 30 60 days old have a 4% chance of noncollection, receivables 6090 days old have an 8% chance of noncollection, and receivables over 90 days old have a 20% chance of noncollection. The company's allowance for doubtful accounts has an unadjusted credit balance of $1,000. Prepare the required adjusting journal entry. Assume instead that the company's allowance for doubtful accounts has an unadjusted debit balance of $400. Prepare the required adjusting journal entry. What is cash realizable value of the accounts receivable on the balance sheet as of 31 December 2021