Question 3 (14 pts) ABC Company uses the balance sheet approach to estimate uncollectible accounts expense. At year-end, an aging of the accounts receivable produced the following five grouping Group Description 1 Current Accounts 2 1-30 days past due 3 31-60 days past due 4 61-90 days past due 5 Over 90 days past due Total Accounts Receivable Amount $600,000 252,000 96,000 18,000 36.000 $1.002.000 On the basis of past experience, the company estimated the percentages probably uncollectible for the five age groups to be as follows: Group one, 2%; Group two, 4%; Group three, 10 %; Group four, 12%; and Group five, 20%. The allowance for doubtfal accounts before adjustments at December 31 showed a credit balance of $14,160. Instructions: A Compute the estimated amount of uncollectible accounts based on the given classification by age category. B. Prepare the adjusting entry needed to bring the Allowance for Doubtful Accounts to the proper amount C Prepare the adjusting entry needed to bring the Allowance for Doubtful Accounts to the proper amount assuming that the existing AFDA has 10,000 debit balance. D. Assume that the company has a policy of providing for bad debts at the rate of 3% of sales, the sales for the you were $1,000,000, and Allowance for Doubtful Accounts had a $3000 credit balance before adjustmen Prepare the adjusting entry for the current year's provision for bad debts