Young and Old Corporation (YOC) uses two aging categories to estimate uncollectible accounts. Accounts less than 60 days are considered young and have a 5% uncollectible rate. Accounts more than 60 days are considered old and have a 40% uncollectible rate.

Required:

1. If YOC has $118,000 of young accounts and $320,000 of old accounts, how much should be reported in the Allowance for Doubtful Accounts?

2. If YOCs Allowance for Doubtful Accounts currently has an unadjusted credit balance of $32,000, how much should be credited to the account?

3. If YOCs Allowance for Doubtful Accounts has an unadjusted debit balance of $4,200, how much should be credited to the account?