Villanueva, Inc. is a supplier of supplies. The following is the statement of accounts receivable ("Aging")

Maturity intervals	Balance	Percent	Amount
unexpired	345,000.00	2%
1- 30 days	96,000.00	4%
31-60 days	27,000.00	9%
61-90 days	22,000.00	15%
91-180 days	7,300.00	60%
more than 180 days	5,500.00	85%
Totals

Assuming a credit balance of $3,050.00 in the counter account. (Provision for doubtful accounts.) How much should we affect the account?
Determine the net realizable value after adjustment.
Prepare the journal entries for the period adjustment.