Using the data in Exercise 9-11, assume that the allowance for doubtful accounts for Performance Bike Co. had a debit balance of $28,400 as of December 31.

Journalize the adjusting entry for uncollectible accounts as of December 31.

Data in Exercise 9-11,

Age Interval ____________Balance ________ Percent Uncollectible

Not past due ................ $3,250,000 ......................... 0.8%

1-30 days past due ..........1,050,000 ............................2.4

31-60 days past due .........780,000 ............................ 7.0

61-90 days past due .........320,000 ...........................18.0

91-180 days past due ........240,000 ...........................34.0

Over 180 days past due ......150,000 ...........................85.0

................................ $5,790,000...............................