English Language and Literature homework help. Exercise 8-4Menge Company has accounts receivable of $93,100 at March 31.Month of SaleBalance, March 31Average Ageof ReceivablesOutstandingMarch$60,00016daysFebruary17,60048daysJanuary8,50073daysPrior to January7,000110days93,100Credit terms are 2/10, n/30. At March 31, Allowance for Doubtful Accounts has a credit balance of $1,200 prior to adjustment. The company uses the percentage-of-receivables basis for estimating uncollectible accounts. The company’s estimate of bad debts is shown below.Age of AccountsEstimated PercentageUncollectible1-30 days2.0%31-60 days5.0%61-90 days20.0%Over 90 days50.0%Your answer is incorrect. Try again.  Determine the total estimated uncollectibles.Total estimated uncollectibles$SHOW LIST OF ACCOUNTSLINK TO TEXTYour answer is partially correct. Try again.  Prepare the adjusting entry at March 31 to record bad debt expense. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)DateAccount Titles and ExplanationDebitCreditMar. 31

English Language and Literature homework help