Reference no: EM132558283

MICA Company's Allowance for Doubtful Accounts had an unadjusted credit balance of $300. Total Accounts Receivable on December 31, 202x, of $43,000 is aged as follows:

December 31, 202x Accounts Receivable = $25,000

Age of Accounts Receivable = Not due (under 30 days)

Expected Percentage Uncollectible = 1%

December 31, 202x Accounts Receivable = $14,000

Age of Accounts Receivable = 1-30 days past due

Expected Percentage Uncollectible = 2%

December 31, 202x Accounts Receivable = $4,000

Age of Accounts Receivable = Over 30 days past due

Expected Percentage Uncollectible = 5%

Question 1: What amount would be recorded in the December 31, 202x adjusting entry to estimate uncollectible accounts receivable?