Answer:
Bad Debts Expense                      Debit                  $ 34,440
Allowance for Uncollectible accounts   Credit                          $ 34,440 
Explanation:
Computation of amount of uncollectible balances to be recorded
Total accounts Receivable                                    $ 300,000
Accounts past due                                                  <u>$   51,000</u>
Accounts not yet past due                                     $ 249,000
Estimated uncollectible from not yet past due         10 %
Estimated uncollectible from past due                       24 %
Estimated uncollectible from not yet past due 10 % * $ 249,000  = $ 24,900
Estimated uncollectible from past due 24 % * $ 51,000            =     <u>$   12,240</u>
Total Estimated Uncollectible amounts                                            = $ 37,140  
Available balance in Allowance account                                           $   (2,700)
Allowance for uncollectible accounts to be recorded                       <u>$ 34,440</u>