Following is a list of credit customers along with their amounts owed and the days past due at December 31. Also shown are five classifications of accounts receivable and estimated bad debts percent for each class.
Create an aging of accounts receivable schedule similar to Exhibit 7.8 and calculate the estimated balance for the Allowance for Doubtful Accounts.
Assuming an unadjusted credit balance of $100, record the required adjustment to the Allowance for Doubtful Accounts.

Data from Exhibit 7.8

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Customer BCC Company Lannister Co. Mike Properties Ted Reeves Jen Steffens Days Past Due Percent uncollectible........... Accounts Receivable Days Past Due 12 0 1% $4,000 1,000 5,000 500 2,000 1 to 30 3% 31 to 60 5% 0 107 72 35 61 to 90 8% Over 90 12%