Problem 7-3A (Algo) Aging accounts receivable and accounting for bad debts LO P2, P3

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On December 31, Jarden Company's Allowance for Doubtful Accounts has an unadjusted credit balance of $15,500. Jarden prepares a schedule of its December 31 accounts receivable by age.

Accounts Receivable	Age of Accounts Receivable	Expected Percent Uncollectible
$ 880,000	Not yet due	1.20%
352,000	1 to 30 days past due	1.95
70,400	31 to 60 days past due	6.45
35,200	61 to 90 days past due	32.50
14,080	Over 90 days past due	67.00

Problem 7-3A (Algo) Part 2

2. Prepare the adjusting entry to record bad debts expense at December 31.

Note: Round percentage answers to nearest whole percent. Do not round intermediate calculations.