At December $31,2021,$ before any year$-$end adjustments, the Accounts Receivable balance of London Financial Software, Inc., is $$380,000.$ The Allowance for Uncollectible Accounts has a$(n)$

$$26,400$ credit balance. London Financial Software prepares the following aging schedule for Accounts Receivable:

$($Click the icon to view the aging schedule.$)$

Read the requirements.

Requirement $1.$ Based on the aging of Accounts Receivable, is the unadjusted balance of the allowance account adequate? Too high? Too low?

First, calculate a revised allowance for uncollectible accounts amount and the adjusting entry amount. $($Round to the nearest dollar.$)$

Allowance for Uncollectible Accounts:

Credit balance needed

$1-30$

$31-60$

$61-90$

Over $90$

Subtotal

Less: Unadjusted balance

Adjusting entry amount

Data table

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At December $31,2021,$ before any year$-$end adjustments, the Accounts Receivable balance of London Financial Software, Inc., is $$380,000.$ The Allowance for Uncollectible Accounts has a$($ n