Problem 8-1A Flint Corporation 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 $48,000 Total 0-30 31-60 91-120 Over 120 Accounts Receivable $537,000 $376,000 $85,000 $18,000 $10,000 % uncollectible 196 4% 5% 996 11% Estimated bad debts 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 $3,700 debit. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit