Required information [The following information applies to the questions displayed below.] Daley Company prepared the following aging of receivables analysis at December 31. Total Accounts receivable $ 605,000 $ 403,000 1 to 30 $ 97,000 Days Past Due 31 to 60 $ 43,000 61 to 90 $ 25,000 Over 90 $ 37,000 Percent uncollectible: 2% 34 69 8% 11% a. Estimate the balance of the Allowance for Doubtful Accounts assuming the company uses 4% of total accounts receivable to estimate uncollectibles, instead of the aging of receivables method. b. Prepare the adjusting entry to record bad debts expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $12,700 credit. c. Prepare the adjusting entry to record bad debts expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $1,700 debit. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Req A Req B and C Estimate the balance of the Allowance for Doubtful Accounts assuming the company uses 4% of total accounts receivable to estimate uncollectibles, instead of the aging of receivables method