Molina Company had a $700 credit balance in Allowance for Doubtful Accounts at December 31, 2020, before the current year's provision for uncollectible accounts. An aging of the accounts receivable revealed the following: Current Accounts 1-30 days past due 31-60 days past due 61-90 days past due Over 90 days past due Total Accounts Receivable $120,000 20,000 10,000 10,000 8,000 $168.000 Estimated Percentage Uncollectible 1 % 3 % 6 % 12 % 30 96 (a) Prepare the adjusting entry on December 31, 2020, to recognize bad debts expense. (Credit account tities are automatically Indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit e Textbook and Media