PART B - Question 4 (10 marks) Fife, Inc. has the following account balances at December 31, 2005: Accounts Receivable $185,600 and Allowance for Doubtful Accounts $1,600 (credit balance). Fife uses the aging of accounts receivable to estimate bad debts. The following aging schedule reflects the situation at year-end: Account Age Current 1-30 days past due 31-60 days past due 61-90 days past due Over 90 days past due Age Group Balance $96,000 64,000 16,000 6,400 3,200 Estimated Uncollectible Percentage 2.0 5.0 15.0 35.0 45.0 (1) Calculate the amount of the Allowance for Doubtful Accounts flat should appear on the December 31, 20X5, balance sheet. (2) Prepare the journal entry to record 20x5 bad debts expense