Zero Products, a wholesaler of sustainable raw materials, prepares the following aging of receivables analysis. Days Past Due 31 to 60 $ 7,200 Accounts receivable Percent uncollectible Total $ 115,200 0 $80,000 1% 1 to 30 $ 18,000 3% 61 to 90 $ 4,000 Required: 1. Estimate the balance of the Allowance for Doubtful Accounts using the aging of accounts receivable method. 2. Prepare the adjusting entry to record bad debts expense assuming the unadjusted balance in the allow Accounts is a $1,000 credit. 5% Over 90 $ 6,000 11% 8% tion.

Lero Products, a wholesaler of sustainable raw materials, prepares the fall..... 1. Estimate the balance of the Allowance for Doubtful Accounts using the aging of accounts recelvable method. 2. Prepare the adjusting entry to record bad debts expense assuming the unadjusted balance in the fllowethod. Accounts is a $1,000 credit