Select the correct answer and show your calculations to support/validate your answer. IMPORTANT The Account Receivable Aging Schedule of the company at the end of the accounting period of year xxx1, has the following data of their accounts payable. The balance of the "Allowance for Uncollectible Accounts" before the adjustment is $310. Balance Outstanding Days Percent % $ 74,200 00 - 30 days 1 1 % $ 18,500 31 -60 days 3% $ 9,200 61 - 90 days 5 % $ 7,700 | 91 - 120 days 1 15% (4 points) 1. What is the balance of the Allowance for Uncollectible Accounts after the adjustment? a) $ 29,120 b) $ 2,605 c) $ 2,912 You MUST show your calculations: (4 points) 2. What is the amount of the Uncollectible Account Expense that will be reported in the Income Statement? a) $ 2,602 b) $ 2,912 c) $ 3,222 You MUST show your calculations