Use the following data to prepare an estimate of bad debts for the Hoofnagle Law Firm for December 31, 2018 using the aging method: Accounts: 0 to 30 days late... $50,000 31 to 60 days late... $5,000 61 to 90 days late... $2,500 Over 90 days late --- $1.000 Total A/R 12/31/18... $58,500 History has shown that the following percentage of each category turns out to be uncollectible: O to 30 days late... 1% 31 to 60 days late...5% 61 to 90 days late... 30% Over 90 days late...50%