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. YOC has $109,000 of young accounts and $495,000 of old accounts, how much should be reported in the Allowance for Doubtful Accounts? 2. MYOC's Allowance for Doubtful Accounts currently has an unadjusted credit balance of $49,000, how much should be credited to the account? 3. If YOC's Allowance for Doubtful Accounts has an unadjusted debit balance of $5,900, how much should be credited to the account? 1 2 3 Amount to be Reported Amount to be Credited Amount to be Credited