Question #5: Molina Company had a $700 credit balance in Allowance for Doubtful Accounts at tho nccounts 2015, before the current year's provision for uncollectible accounts. An agg receivable revealed the following: at December 31, of the accounts ible accounts. An aging Estimated Percentage Uncollectible 196 3% 6% 12% 30% Current Accounts 1-30 days past due 31-60 days past due 61-90 days past due Over 90 days past due Total Accounts Receivable 1200 $120,000 20,000 10,000 10,000 $168,000 Instructions Prepare the adjusting entry on December 31, 2015, to recognize bad debt expense. (a) (b) Assume the same facts as above except that the Allowance for Doubtful Accounts account had a $500 debit balance before the current years provision for uncollectible accou Prepare the adjusting entry for the current year's provision for uncollectible accounts. (c) Assume that the company has a policy of providing for bad debts at the rate of 1% of sales, that sales for 2015 were $550,000, and that Allowance for Doubtful Accounts had a $650 credit balance before adjustment. Prepare the adjusting entry for the current year's provision for bad debts