Net Zero Products, a wholesaler of sustainable raw materials, prepares the following aging of receivables analysis. Accounts receivable Percent uncollectible Total 0 $ 122,000 $ 82,000 1 to 30 $ 20,000 Days Past Due 31 to 60 61 to 90 $ 8,000 $ 5,000 1% 3% 5% 8% Over 90 $ 7,000 11% 1. Estimate the balance of the Allowance for Doubtful Accounts using the aging of accounts receivable method. 2. Prepare the adjusting entry to record bad debts expense assuming the unadjusted balance in the Allowance for Doubtful Accounts is a $1,200 credit. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the adjusting entry to record bad debts expense assuming the unadjusted balance in the Allowance for Doubtful Accounts is a $1,200 credit. No Date General Journal 1 December 31 Bad debts expense Allowance for doubtful accounts Debit Credit 2,990 X 2,990