Record the adjusting entry for uncollectible accounts using the aging method

Exercise 5-10 (Algo) Record the adjusting entry for uncollectible accounts using the aging method (LO5- 5) St. Joseph Hospital has the following balances on December 31, 2024, before any adjustment: Accounts Receivable = $69,000; Allowance for Uncollectible Accounts = $1,500 (credit). St. Joseph estimates uncollectible accounts based on an aging of accounts receivable as shown below. Estimated Percent Age Group Amount Receivable $49,000 Uncollectible Not yet due 20% 0 to 30 days past due 10,900 25% 31 to 90 days past due 7,900 50% More than 90 days past due 1,200 90% Total $69,000 Required: 1. Estimate the amount of uncollectible receivables. 2. Record the adjusting entry for uncollectible accounts on December 31, 2024. 3. Calculate net accounts receivable reported in the balance sheet. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Estimate the amount of uncollectible receivables.