Knowledge Check 01 At its December 31 year-end, Accounts Receivable totaled $86,600, aged as follows: (01-30 days old, $71,000 (2) 31--90 days old, $12,000; and (3) more than 90 days old, $3,600. Experience has shown that for each age group, the estimated uncollectible is (1) 12%, (2) 24%, and (3) 48%, respectively. What is the balance to which the Allowance for Doubtful Accounts will need to be adjusted at the end of the period? Allowance for Doubtful Accounts Knowledge Check 01 Broadway Company reported a balance in Accounts Receivable of $50,000 and a zero balance in the Allowance for Doubtful Accounts. The company's aging of accounts receivable determined $12,200 to be uncollectible. Prepare the end-of-period adjusting entry to record bad debt expense. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)