Time Left:1:05:17 Amber Evraets: Attempt 1 Question 7 (4 points) Kiley Company had a $600 credit balance in Allowance for Doubtful Accounts at December 31, 2020, before the current year's provision for uncollectible accounts. An aging of the accounts receivable revealed the following: Estimated Percentage Uncollectible Estimated Uncollectible Amount Current Accounts 1% $120,000 12,000 3% 10,000 6% 5,000 12% 1-30 days past due 31-60 days past due 61-90 days past due Over 90 days past due Total Accounts Receivable 8,000 30% 155,000 Instructions (b) Assume the same facts as above, using the amount of uncollectible you calculated in an earlier problem, 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, in the space provided below. Indent the credit account title and amount