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QUESTION 3 The schedule of aging accounts for a Company, at the end of the year 2020, appears below: Current 1-30 days overdue 31-60 days overdue More than 60 days overdue Total Accounts Receivable $20,000 5,000 4,000 2500 31.500 Estimate of Bad Dabis 1% 5% 10% 20% The allowance was estimated by using the schedule of ageing accounts. The allowance account had a debit balance of $400, before the estimate was made Required: Prepare the adjusting entry to record bad debts expense for 2020, SHOW YOUR CALCULATIONS) For the toolbar, prets ALT FIO PC or ALTIN-F10 (Mac)