Requirements 1-3

Zuo Software categorizes its accounts receivable into four age groups for purposes of estimating its allowance for uncollectible accounts. 1. Accounts not yet due = $425,000; estimated uncollectible = 15%. 2. Accounts 130 days past due = $53,100; estimated uncollectible = 19%. 3. Accounts 3190 days past due = $42,500; estimated uncollectible = 22% 4. Accounts more than 90 days past due = $31,900; estimated uncollectible = 26%. At 12/31/2021, before recording any adjustments, Zuo has a credit balance of $29,400 in its allowance for uncollectible accounts. Required: 1. Estimate the appropriate 12/31/2021 balance for Zuo's allowance for uncollectible accounts. 2. What journal entry should Zuo record to adjust its allowance for uncollectible accounts? 3. Calculate Zuo's 12/31/2021 net accounts receivable balance. Required 1 Required 2 Required 3 Estimate the appropriate 12/31/2021 balance for Zuo's allowance for uncollectible accounts. Balance in allowance for uncollectible accounts