Read the requirements. A: December 31, 2021, before any year-end adjustments, the Accounts Receivable balance of Digital Electronics, Inc., is $370,000. The Allowance for Uncollectible Accounts has a(n) $24,200 cred balance Digital Electronics prepares the following aging schedule for Accounts Receivable: Click the icon to view the aging schedule.) Requirement 1. Based on the aging of Accounts Receivable, is the unadjusted balance of the allowance account adequate? Too high? Too low? First, calculate a revised allowance for uncollectible accounts amount and the adjusting entry amount. (Round to the nearest dollar) Allowance for Uncollectible Accounts: Credit balance needed 1-30 600 31-60 5,500 61-90 4,200 20,000 Over 90 Subtotal $ 30,300 (24.200) $ 6,100 Less: Unadjusted balance Adjusting entry amount The credit balance at December 31 in Allowance for Uncollectible Accounts should be Thus, the current balance of the allowance account is The current balance is Clear all Check answer Read the requirements. Requiremer First, calcula Allowance Credit be Data table Total Balance Subtotal Less: Un Adjusting $370,000 Estimated uncollectible Age of Accounts 1-30 Days $150,000 $110,000 31-60 Days 61-90 Days $70,000 Over 90 Days $40,000 0.4% 5.0% 6.0% 50.0% Print Done The credit balance at December 31 in Allowance for Unicomacudia Accounts should da Thus, the current balance of the allowance account is - X low? Read the requirements. Requiremen First, calcula Allowance f Credit ba Requirements 1. Based on the aging of Accounts Receivable, is the unadjusted balance of the allowance account adequate? Too high? Too low? 2. Make the entry required by the aging schedule. Prepare a T-account for the allowance. 3. Show how Digital Electronics will report Accounts Receivable on its December 31 balance sheet. Subtotal Less: Un Print Done Adjusting The credit balance at December 31 in Allowance for Uncollectible Accounts should be Thus, the current balance of the allowance account is The current balance is blow