If necessary, record year-end adjustment entries for doubtful accounts. Prepare the aging schedule for the following accounts receivable:

Aging classification (number of days to expire)

Account balance as of December 31

Estimate of the percentage of the account that is uncollectible

0-30 days             $120,000             1%

31-60 days          80,100   2 %

61-90 days          21,000   11%

91- 120 days       9,000     23%

More than 120 days         15,300   65%

Total accounts receivable

$245,400