Alex Company uses the aging method to adjust the allowance for uncollectible accounts at the end of the period. At December 31, 2020, the balance of accounts receivable is $245,000 and the allowance for uncollectible accounts has a credit balance of $6,500 (before adjustment). An analysis of accounts receivable produced the following age groups: E (Click the icon to view the accounts receivable aging information.) Based on past experience, Alex estimates that the percentages of accounts that will prove to be uncollectible within the three groups are 9%, 15%, and 21%, respectively. Based on these facts, the adjusting entry for bad debt expense should be made in the amount of O A. $23,530 OB. $30,030. O C. $17,030. OD. $27,030. Toni's Foods has outstanding 450 $10.00 preferred shares and 1,600 common shares. Toni's declares dividends of $13,300. The correct entry is: OA. Retained Earnings 13,300 Dividends Payable, Preferred 4,500 Dividends Payable, Common 8,800 B. Dividends Payable, Preferred 4,500 Dividends Payable, Common 8,800 Cash 13,300 Retained Earnings 13,300 Dividends Payable, Preferred 6,650 Dividends Payable, Common 6,650 D. Dividends Expense 13,300 Cash 13,300