A B C D E F G H K 1 Pumpkin Mania Incorporated uses the Aging of Receivables method under the Allowance method to estimate uncollectible receivables. 2 The following shows the company's Accounts Receivables based on their age: 3 Amount 4 Age 5 0-30 Days 6 31-75 Days 7 76-100 Days 8 100-180 Days 9 181-255 Days 10 11 12 Make the necessary journal entry for the company to recognize total estimated uncollectible accounts receivable. Assume the Allowance account has no previous balance. 13 14 15 16 $250,000.00 $175,000.00 $125,000.00 $ 60,000.00 $ 20,000.00 % Chance Uncollectible 1% 2% 4% M 7% 15% N O