Zuo Software categorizes its accounts receivable into four age groups for purposes of estimating its allowance for uncollectible accounts.

1. Accounts not yet due = $400,000; estimated uncollectible = 8%.
2. Accounts 1-30 days past due = $50,000; estimated uncollectible = 15%.
3. Accounts 31-90 days past due = $40,000; estimated uncollectible = 30%
4. Accounts more than 90 days past due = $30,000; estimated uncollectible = 50%.

At 12/31/2021, before recording any adjustments, Zuo has a credit balance of $22,000 in its allowance for uncollectible accounts.

Required:

1.Estimate the appropriate 12/31/2021 balance for Zuo's allowance for uncollectible accounts.

2.What journal entry should Zuo record to adjust its allowance for uncollectible accounts?

3.Calculate Zuo's 12/31/2021 net accounts receivable balance.

Required 1. Balance in allowance for uncollectible accounts = ????

Requirement 2

Record the journal entry for the adjustment to allowance for uncollectible accounts

Requirement 3

Balance in Net accounts receivable = ????