please fill out spreadsheet as designated in directions

Calculating and Adjusting for Bad Debt Aberforth Inc. has a normal balance of $3,100 in Allowance for Doubtful Accounts before adjustment on 10/31/2020 Aberforth uses the Balance Sheet Aging Method of estimating bad debt and has put together the table below, describing the current balance in Accounts Receivable and management's estimates for uncollectibility: % uncollectible 0-30 days outstanding 247,000 1% 31-60 days outstanding 87,000 4% 61-90 days outstanding 43,250 5% 91-120 days outstanding 14,500 9% over 120 days outstanding 16,000 11% Total Accounts Receivable $407,750 Use column E above to for your calculations for this period's adjusting entry Prepare the appropriate adjusting entry based on this information in the Accounting Equation below (row 22) 1. Provide an appropriate and brief description. 2. Add account names to the appropriate Accounting Equation elements below (as necessary) 3. Enter the correct entries for each account that must be updated $404,650.00 Liabilities $0.00 Owners' Equity 208,000 $404,650.00 196,650 Assets $404,650.06 Allowance for Doubtful Accounts -3,100 Accounts Receivable 407,750 Common Stock 205,000 Retained Earnings 3,000 Revenue 196,650 0 Starting balances 10/31 Adjusting Entries Account Totals 407,750 -3,100 0 = 0 0 + 205,000 3,000 196,650 0 0