S The schedule of aging accounts for a Company, at the end of the year 2020, appears below Current 1-30 days overdue 31.60 days overdue More than 60 days overdue Total Accounts Receivable $40,000 10,000 5500 1.800 57.300 Estimate % of Bad Debts 1% 5% 10% 20% 2.5 points The allowance was estimated by using the schedule of ageing accounts. The allowance account had a debit balance of $600, before the estimate was made. Required: Prepare the adjusting entry to record bad debts expense for 2020 (SHOW YOUR CALCULATIONS) For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac BIVS Paragraph Arial 10pt Click Save and Submit to save and submit. Click Save All Answers to save all answers. 7 A IX Qe DWORDS POWERED BY TINY Save All Answers Save and Suta