Problem 8-1A Bridgeport Corp. uses the allowance method of accounting for bad debts. The company produced the following aging of the accounts receivable at year-end. Calculate the total estimated bad debts on the below information. Number of Days Outstanding 61-90 $36,000 Total 0-30 $328,000 1% 31-60 $82,000 4% 91-120 $24,000 79% Over 120 $13,000 11% Accounts Receivable$483,000 5% Estimated bad debts SHOW LIST OF ACCOUNTS LINK TO VIDEO SIMILAR PROBLEM Prepare the year-end adjusting journal entry to record the bad debts using the aged uncollectible accounts receivable determined in above. Assume the unadjusted balance in Allowance for Doubtful Accounts is a $4,200 debit. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Of the above accounts. $4,600 is cetermined to be specifically uncolleczible. Prepare the journal entry to write off the uncollectible account. (Credit account titles are automatically indented swhen amount is entered. Do not indent manually) Account Titles and Explanation Debit Credit