= Homework: HW #5 Question 7, E5-22A (similar to) Part 1 of 6 HW Score: 50%, 5 of 10 points Points: 0 of 1 Save At December 31, 2021, before any year-end adjustments, the Accounts Receivable balance of Solar Power Manufacturing, Inc., is $360,000. The Allowance for Uncollectible Accounts has a(n) $17,700 credit balance. Solar Power Manufacturing prepares the following aging schedule for Accounts Receivable: (Click the icon to view the aging schedule.) Read the requirements. Data table Requirement 1. Based on the aging of Accounts Receivable, is the unadjusted balance of the allowance account adequa First, calculate a revised allowance for uncollectible accounts amount and the adjusting entry amount. (Round to the near Allowance for Uncollectible Accounts: Credit balance needed Total Balance $360,000 Estimated uncollectible 1-30 31-60 61-90 Over 90 Subtotal Less: Unadjusted balance Adjusting entry amount Help me solve this Video Get more help Requirements 1-30 Days $140,000 0.3% $110,000 2.0% Age of Accounts 31-60 Days 61-90 Days $70,000 5.0 % Over 90 Days $40,000 40.0 % Print Done 1. Based on the aging of Accounts Receivable, is the unadjusted balance of the allowance account adequate? Too high? Too low? 2. Make the entry required by the aging schedule. Prepare a T-account for the allowance. 3. Show how Solar Power Manufacturing will report Accounts Receivable on its December 31 balance sheet. Print Done