(Solved): Exercise 7-15 (Algo) Calculate uncollectible accounts using the aging method; record adjustments [L ...

Exercise 7-15 (Algo) Calculate uncollectible accounts using the aging method; record adjustments [LO7\( 5,7-6] \) Zuo Software categortzes its accounts recelvable into four age groups for purposes of estimating its allowance for uncollectible accounts 1. Accounts not yet due \( =\$ 442.000 \), estimated uncollectible \( =10 \% \) 2. Accounts \( 1-30 \) days past due \( =\$ 55,200 \); estimated uncollectible \( =13 \% \). 3. Accounts 31-90 days past due \( =\$ 44,200 \), estimated uncollectible \( -17 \% \) 4. Accounts more than 90 days past due \( =\$ 33,200 \), estimated uncollectible \( =20 \% \), At 1231/2024, before recording any adjustments, Zuo has a credit balance of \( \$ 29,000 \) in its allowance for uncollecuble accounts. Required: 1. Estimate the appropriate \( 12 / 31 / 2024 \) balance for Zuo's allowance for uncollectlble accounts. 2. What journal entry should Zuo record to adjust its allowance for uncollectible accounts? 3. Calculate 2uo's \( 12 / 31 / 2024 \) net accounts recelvable balance. Complete this question by entering your answers in the tabs below. Estimate the appropriate \( 12 / 31 / 2024 \) balance for Zuo's allowance for uncollectible accounts.