Prepare the adjusting entries relating to credit losses on March 31, 2024.

An aging analysis of Penny Worth Limited's accounts receivable at March 31, 2024 and 2023, showed the following: Additional information: 1. At March 31, 2023, the unadjusted balance in Allowance for Expected Credit Losses was \$6,700. 2. In 2024,$99,500 of accounts were written off as uncollectible and $5,800 of accounts previously written off were recovered. Prepare an aging schedule to calculate the estimated uncollectible accounts at March 31, 2023 and 2024. Note that the estimated percentages uncollectible are the same for both years. Total estimated allowance balance at Mar. 31, 2023: Total estimated allowance balance at Mar. 31, 2024 : Prepare the adjusting entry relating to credit losses on March 31, 2024. (List debit entry before credit entry. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)