Determine bad debt expense, and prepare the adjusting entry. E8.6 (LO 2), AP Godfreid Company has accounts receivable of $95,400 at March 31, 2022. Credit terms are 2/10, n/30. At March 31, 2022, there is a $2,100 credit balance in Allowance for Doubtful Accounts prior to adjustment. The company uses the percentage-of- receivables basis for estimating uncollectible accounts. The company's estimates of uncollectibles are as shown below. Balance, March 31 Age of Accounts 2022 2021 Current $65,000 $75,000 1-30 days 12,900 8,000 past due 31-90 10,100 2,400 days past due Over 90 7,400 1,100 days past due $95,400 $86,500 Instructions a. Determine the total estimated uncollectibles at March 31, 2022 b. Prepare the adjusting entry at March 31, 2022, to record bad debt expense. c. Discuss the implications of the changes in the aging schedule from 2021 to 2022. Balance, March 31 Estimated Percentage Uncollectible 2022 2021 $65,000 2% $75,000 8,000 12,900 5 10,100 2,400 30 7,400 1,100 50 $95,400 $86,500