Young and Old Corporation (YOC) uses two aging categorles to estimate uncollect ble accounts. Accounts less than 60 doys are consdered young and have a 3 uncollectible rate. Accounts more than 60 doys are considered old and have a 40% uncollectible: rate Required: 1. If YOC has $108,000 of young accounts and $480,000 of old accounts, how mich shoukd be teported in the Alowance for Doubtfut Accounts? 2. If YOCS Allowance for Doubthil Accewents curenty has an unodjusted ciedit baiance of $48.000, how mich should be credited to the account? 3. 1f YOC's Alowance for Doubtiul Accounts has an unachusted detht bolance of $5,800, thow much should be ciedited to the account? Young and Old Corporation (YOC) uses two aging categories to estimate uncollectible accounts. Accounts less than 60 days are considered young and have a 3\% uncollectible rate. Accounts more than 60 doys are considered old and have a 40% uncollectible rate. Required: 1. If YOC has $108,000 of young accounts and $480,000 of old accounts, how much should be reported in the Alowance for Doubtfut Accounts? 2. If YOCS Allowance for Doubthal Accewents curienty has an unadjusted ciedit balance of $48,000, how much should be credited to the account? 3. If YOC's Allowance for Doubtul Accounts hos ari unadjusled detat balance of 55.800 ; howmuch thould be ciedited to the account