On December 31, a company has an unadjusted credit balance of $1,600 in its Allowance for Doubtful Accounts. Following is a schedule of its December 31 accounts receivable by age.

Age of Accounts Receivable Accounts Receivable Expected Percent Uncollectible

Not yet due $ 96,000 1.0%

1 to 30 days past due 64,000 2.5%

31 to 60 days past due 16,000 11.0%

61 to 90 days past due 6,500 37.0%

Over 90 days past due 3,200 70.0%

Total $ 185,700

Calculate the required balance of Allowance of Doubtful Accounts on December 31 using an aging of accounts receivable.

Accounts Receivable Percent Uncollectible Estimated Uncollectible

Not due: x =

1 to 30: x =

31 to 60: x =

61 to 90: x =

Over 90: x =

Estimated balance of allowance for uncollectible $0

Prepare the adjusting journal entry to record bad debts expense at December 31. Journal entry worksheet Record the estimated bad debts.