Reference no: EM132657158

A company has the following aging schedule of its accounts receivable with the estimated percent uncollectible:

Age Group                        Amount Receivable Estimated         Percent Uncollectible

Not yet due                      $ 175,000                                          4 %

0-60 days past due            $ 40,000                                            10 %

61-120 days past due $         10,000                                            30 %

More than 120 days past due  $ 5,000                                          60 %

Problem 1: Assuming the balance of Allowance for Uncollectible Accounts is $3,000 (credit) before adjustment, which of the following would be recorded in the year-end adjusting entry.