Intermediate Accounting-E6-10 page 6-47 Aging Analysis of Accounts Receivable-Cowen's, a large department store located in a metropolitan area, has been experiencing difficulty in estimating its bad debts. The company has decided to prepare an schedule for its outstanding accounts receivable and estimate bad debts by the due dates of its receivables. This analysis discloses the following information: Balance-193,000-Age of receivable-Under 30 days-0.8% Balance-114,000-Age of Receivable-30-60 days-2.0% Balance-73,000-Age of receivable-61-120-5.0% Balance-41,000-Age of Receivable-121-140-20% Balance-25,000-Age of Receivable-241-360-35.0% Balance 19,000-Age of Receivable-Over 360 days-60.0% for a total of $465,000 Required: 1. Use the preceding analysis to compute the estimated amount of uncollectible receivables. 2. Prepare the journal entry to record Cowen's estimated uncollectible, assuming the balance in Allowance for Doubtful Accounts prior to adjustment is: a. 0 B. 3000 (debit) c 2800 (credit)