Performance Bike Co. is a wholesaler of motorcycle supplies. An aging of the company's accounts receivable on December 31 and a historical analysis of the percentage of uncollectible accounts in each age category are as follows: Estimate the proper balance of the allowance for doubtful accounts should be as of December 31. Performance Bike Co. Estimation of Uncollectible Accounts December 31 Estimated Uncollectible Estimated Uncollectible Balance Accounts Percent Accounts Amount $700,000 1/2% Age Interval Not past due 4 8 1-30 days past due 31-60 days past due 61-90 days past due 91-180 days past due Over 180 days past due 77,000 35,000 25,200 18,200 17 42 13,300 75 Total $868,700