The Jacobs Co. had a $1,000 credit balance in the Allowance for Doubtful Accounts account at 12/31 before the current year's provision for uncollectible accounts An aging of the Accounts Receivable revealed the following: Estimated Uncollectible Current accounts $120,000 552 1-30 days past due 40,000 2% 31-60 35,000 8% 61-90 15.000 16% >90 10.000 40% Total Accounts Receivable $220.000 Instructions: A) Prepare the adjusting journal entry on 12/31 to record bad debts expense. JOURNAL Post Ref: Debit Credit Date Description B) Assume the same facts as above except that the Allowance for Doubtful Accounts account has a $1,000 debit balance before the current year's provision for uncollectible accounts Prepare the adjusting journal entry on 12/31 for the current year's provision for uncollectible accounts JOURNAL Post Ref Debit Credit Date Description