[The following information applies to the questions displayed below.] On December 31, Jarden Company's Allowance for Doubtful Accounts has an unadjusted credit balance of $16,000. Jarden prepares a schedule of its December 31 accounts receivable by age. Accounts Receivable $ 880,000 352,000 70,400 35,200 14,080 Age of Accounts Receivable Not yet due 1 to 30 days past due 31 to 60 days past due 61 to 90 days past due Over 90 days past due Expected Percent Uncollectible 1.20% 1.95 6.45 32.50 67.00 Problem 9-3A (Algo) Part 1 Required: 1. Compute the required balance of the Allowance for Doubtful Accounts at December 31 using an aging of accounts receivable. Accounts Receivable X Percent Uncollectible (#.##%) Estimated Uncollectible Not due 1 to 30: 31 to 60: 61 to 90 = Over 90 Estimated balance of allowance for uncollectibles $ 0 2. Prepare the adjusting entry to record bad debts expense at December 31. (Round percentage answers to nearest whole percent. Do not round intermediate calculations.) View transaction list Journal entry worksheet 1 Record the estimated bad debts. Note: Enter debits before credits. General Journal Debit Credit Date December 31 Record entry Clear entry View general journal