Question #29 8 Points. A company has the following unadjusted account balances on December 31, 2019 - Accounts Receivable of $185,700 and Allowance for Doubtful Accounts of $1,600 (credit balance). The company uses the aging of accounts receivable to estimate its bad debts. The following aging schedule reflects its accounts receivable at the current year-end: Estimated Account Age Balance Uncollectible Percentage Current (not yet due) $96,000 1.0% 1-30 days past due $64,000 2.5% 31-60 days past due $16.000 11.0% 61-90 days past due $6,500 37.0% Over 90 days past due $3200 70.0% Total $185,700 1. Calculate the amount of the Allowance for Doubtful Accounts that should appear on the December 31, 2019 balance sheet. Calculation: Amount: Den 90 EE! Total $185,700 1. Calculate the amount of the Allowance for Doubtful Accounts that should appear on the December 31, 2019 balance sheet. Calculation: Amount: Total 2. Prepare the adjusting journal entry to record bad debts expense for the current year. Account Debit Credit