Assume the same facts except that the Allowance for Doubtful Accounts account had a $500 debit balance before the current year's provision for uncollectible accounts. Prepare the adjusting entry for the current year's provision for uncollectible accounts. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List debit entry before credit entry.) Account Titles and Explanation Debit Credit Molina Company had a $700 credit balance in Allowance for Doubtful Accounts on December 31, 2027, before the current year's provision for uncollectible accounts. An aging of the accounts receivable revealed the following Estimated Percentage Uncollectible Current Accounts $120,000 1% 1-30 days past due 20.000 3% 31-60 days past due 10,000 6% 61-90 days past due 10,000 12% Over 90 days past due 8,000 30% Total Accounts Receivable $168.000 Your answer is correct Prepare the adjusting entry on December 31, 2027, to recognize bad debt expense. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List debit entry before credit entry) Account Titles and Explanation Bad Debt Expense Allowance for Doubtful Accounts Debit 5.3001 Credit 5,300 Your answer is incorrect. Assume the same facts except that the Allowance for Doubtful Accounts account had a $500 debit balance before the current year's provision for uncollectible accounts. Prepare the adjusting entry for the current year's provision for uncollectible accounts. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List debit entry before credit entry) Account Titles and Explanation, Debit Credit