Sam & Ella Catering had the following balances on December 31, 2018, before any adjustment: Accounts Receivable = $100,000; Allowance for Uncollectible Accounts = $4,100 (credit). McConnell's estimates uncollectible accounts based on the following aging schedule:

Age Group Accounts Estimated Uncollectible

Not yet due 50,000 4%

0-30 20,000 8%

31-60 18,000 10%

More than 60 12,000 40%

Requirement 1: Determine the allowance for doubtful accounts after adjustment.

Requirement 2: Record the journal entry for bad debt expense.

Requirement 3: What is the net realizable value of accounts receivable after adjustment?