Knowledge Check 01 At its December 31 year-end, Accounts Receivable totaled $86,600, aged as follows: (1) 1-30 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