using this information: Age Group Amount Receivable Estimated Percent Uncollectible Not yet due $40,000 4% 0-90 days past due 16,000 20% 91-180 days past due 11,000 25% More than 180 days past due 13,000 80% Total $80,000Disregard #1 above. Now assume that Richardson Orthodontist Practice estimates its annual bad debt expense using the aging of accounts receivables method. Calculate bad debt expense for the year ending December 31, 2023 and prepare the relevant adjusting entry. Assume there is a credit balance of $5,000 in the allowance for uncollectible account