Question 37 (6 points) A company uses the analysis of receivables method by aging its accounts receivable. Based on the following information, answer questions a) and b) below. Age Interval Not past due 1-30 days past due 31-90 days past due 91-180 days past due over 180 days past due Balance Percent Uncollectible 1% $865,000 2% 110,000 65,000 15% 42,000 60% 15,000 90% (a) fiscal year end (3 points) Calculate an estimate of what the allowance for doubtful accounts balance should be at |(b) Assuming the allowance for doubtful accounts has a credit balance of $6,500 prior to adjustment, determine the appropriate adjusting entry necessary to adjust uncollectibles at fiscal year end (3 points) Credit Debit AV