Required information Problem 7-3A (Algo) Aging accounts receivable and accounting for bad debts LO P2, P3 [The following information applies to the questions displayed below.] On December 31, Jarden Co.'s Allowance for Doubtful Accounts has an unadjusted credit balance of $16,000. Jarden prepares a schedule of its December 31 accounts receivable by age. Accounts Receivable $ 900,000 360,000 Age of Accounts Receivable Not yet due 1 to 30 days past due 31 to 60 days past due Expected Percent Uncollectible 1.20% 1.95 72,000 6.45 36,000 14,400 61 to 90 days past due Over 90 days past due 32.50 67.00 Problem 7-3A (Algo) Part 1 Required: 1. Compute the required balance of the Allowance for Doubtful Accounts at December 31 using an aging of accounts receivable. Not due: Accounts Receivable Percent Uncollectible (#.##%) Estimated Uncollectible 1 to 30: 31 to 60: 61 to 90: Over 90: Estimated balance of allowance for uncollectibles $ 0