The provision for doubtful debts is created based on the ageing method. 1% of current receivables, 2% of those 30 days overdue 5% of those 60 days overdue and 10% of those > 60 days overdue are deemed uncollectible. Of the balance of debtors owing $9,455 are current, $6,785 is due in 30 days, $5,500 is due in 60 days and $2,565 is > 60 days overdue. In addition it was decided that a bad debt 120 days overdue for the amount of $1310 was to be written off. . Assuming the provision for doubtful debts currently has a balance of $1055, prepare the journal entries to record the bad debt write off and the adjustment of the provision. What is the new balance in the provision for doubtful debts account?