Problem 7-3A (Algo) Aging accounts receivable and accounting for bad debts LO P2, P3 [The following information applies to the questions displayed below.) On December 31, Jarden Co.'s Allowance for Doubtful Accounts has an unadjusted credit balance of $16,000. Jarden prepares a schedule of its December 31 accounts receivable by age. Accounts Receivable $ 800,000 320,000 64,000 32,000 12,800 Age of Accounts Receivable Not yet due 1 to 30 days past due 31 to 60 days past due 61 to 90 days past due Over 90 days past due Expected Percent Uncollectible 1.308 2.05 6.55 33.00 69.00 Problem 7-3A (Algo) Part 1 Required: 1. Compute the required balance of the Allowance for Doubtful Accounts December 31 using an aging of accounts receivable. Accounts Recolvable Percent Uncollectible (#.##%) Estimated Uncollectible X Not due: 1 to 30: 31 to 60 X IIIII 61 to 90: Over an Required information Problem 7-3A (Algo) Aging accounts receivable and accounting for bad debts LO P2, P3 [The following information applies to the questions displayed below.) On December 31, Jarden Co.'s Allowance for Doubtful Accounts has an unadjusted credit balance of $16,000. Jarden prepares a schedule of its December 31 accounts receivable by age. Age of Expected Percent Accounts Receivable Accounts Receivable Uncollectible $ 800,000 Not yet due 1.30 320,000 1 to 30 days past due 2.05 64,000 past 32,000 61 to 90 days past due 12,800 Over 90 days past due 31 to 60 ue 33.00 69.00 Problem 7-3A (Algo) Part 2 2. Prepare the adjusting entry to record bad debts expense at December 31. (Round percentage answers to nearest whole percent. Do not round intermediate calculations.) View transaction list