Aging of account receivable. York company's account receivable show the following balance:

York Company uses the aging-of-accounts-receivable procedure for uncollectible accounts. The credit balance in the Allowance for Uncollectible Accounts is now $1 6,000. Analysis of collection expenence suggests that York should use the following percentages to compute the estimates of amounts that will eventually prove uncollectible: 0“30 days. 0.5%; 31“60 days, 1.0%; 61“120 days, 10%; and more than 120 days, 30%. Prepare the journal entry to provide for estimated uncollectible accounts.

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Age of Accounts 0-30 Days 31-60 Days 61-120 Days More than 120 Days Balance Receivable $1,200,000 75,000 30,000