Problem 5-9 (AICPA Adapted) / Seion Company began operations on January 1, 2019. On December 31, 2019 and 2020, the entity provided for anollectable accounts expense based on 1% of annual credit Determine the required allowance on December 31, 2020, sales On January 1, 2020, the entity changed the method of determining the allowance for uncollectible accounts by applying certain percentages to the aging of accounts receivable. Days past invoice date Percent uncollectible 0 30 31 90 1 91 5 180 20 Over 180 80 In addition, the entity wrote off all accounts receivable that were over 1 year old The following additional information related to the years ended December 31, 2020 and 2019: 2020 2019 Credit sales 3,000,000 2,800,000 Collections, including recovery 2,915,000 2,400,000 Apunts written off 27,000 Tone 7,000 Recovery of coounts previously written off non Days past invoice date 30 300,000 250,000 31 - 90 80.XIO 90,000 60,000 45,000 91-180 25.000 15.000 Over 180 Required: 1,2020. Determine the allowance for doubtful accounts on January Determine the allowance for doubtful accounts on December 31, 2020 before adjustment. Prepare the adjustment to record the doubtful account: mpense for the current year