The Broad Channel Company had a $600 credit balance in Allowance for Doubtful Accounts at December 31, 2022 (this is the balance in the account before the current year's adjusting journal entry to record bad debts expense). An aging of the accounts receivable revealed the following: Estimated % Uncollectible 1% Current Accounts $130,000 1-30 days past due 12,000 31-60 days past due 10,000 61-90 days past due 5,000 Over 90 days past due 8,000 Total Accounts Receivable $165.000 3% 6% 12% 30% Instructions: a) Prepare the adjusting entry on December 31, 2022, to recognize bad debts expense. OMIT EXPLANATIONS. b) Assume the same facts as above except that the Allowance for Doubtful Accounts had a $600 debit balance before adjustment. Prepare the adjusting entry to record the current year's bad debts expense. Attach File Click Save and Submit to save and submit. Click Save All Answers to save all answers Save All Answers