Number of Days Outstanding Accounts Receivable Estimated % Uncollectible Total Estimated Uncollected Accounts 0-30 days $395,000 1% 31-60 days 120,000 5% 61-90 days 74,000 10% Over 90 days 44,000 22% Total $633,000 Prepare the adjusting journal entry at December 31 to record bad debts expense, assuming that the allowance account has a credit balance of $3,470. (Credit account titles are automatically ingented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31 Prepare the adjusting journal entry at December 31 to record bad debts expense, assuming that the allowance account has a debit balance of $5,460. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Date Account Titles and Explanation Credit Dec. 31