Selbys Bike Co. is a wholesaler of motorcycle supplies. An aging of the companys accounts receivable on December 31, 2016, and a historical analysis of the percentage of uncollectible accounts in each age category are as follows: Age Interval Balance Percent Uncollectible Not past due $1,250,000 0.75% 1 - 30 days past due 500,000 3 31 - 60 days past due 190,000 5 61 - 90 days past due 60,000 15 91 - 180 days past due 36,000 40 Over 180 days past due 24,000 80 $2,060,000 Estimate what the proper balance of the allowance for doubtful accounts should be as of December 31, 2016. Estimate what the proper balance of the allowance for doubtful accounts should be as of December 31, 2016. Estimated Uncollectible Accounts Age Interval Balance Percent Amount Not past due $1,250,000 0.75% $ 1 - 30 days past due 500,000 3 31 - 60 days past due 190,000 5 61 - 90 days past due 60,000 15 91 - 180 days past due 36,000 40 Over 180 days past due 24,000 80 Total $2,060,000