Metlock Company has accounts receivable of $125.600 at March 31. An analysis of the accounts shows the following Month of Sale Balance, March 31 March $76,800 February 26,880 January 14,000 Prior to January 7,920 $125,600 Credit terms are 2/10, n/30. At March 31. Allowance for Doubtful Accounts has a credit balance of $1.600 prior to adjustment. The company uses the percentage-of-receivables basis for estimating uncollectible accounts. Metlock estimates that 8% of accounts receivable will become uncollectible. The company is considering using the estimate of bad debts shown below. Age of Accounts Estimated Percentage Uncollectible 1-30 days 2.0% 31-60 days 5.0% 61-90 days 30.0% Over 90 days 50.0%