Use the following data to prepare an estimate of bad debts for the Hoofnagle Law Firm for December 31, 2020 using the aging method: Accounts: O to 30 days late... $75,000 31 to 60 days late... $10,000 61 to 90 days late ... $5,000 Over 90 days late --- $2,000 Total A/R 12/31/20... $92,000 History has shown that the following percentage of each category turns out to be uncollectible: O to 30 days late ...(.5%) 31 to 60 days late ... 2% 61 to 90 days late... 10% Over 90 days late ... 50%