The Physical Therapy Center specializes in helping patients regain motor skills after serious accidents. The center has the following balances on

The Physical Therapy Center specializes in helping patients regain motor skills after serious accidents. The center has the following balances on December 31, 2015, before any adjustment: Accounts Receivable = $90,000; Allowance for Uncollectible Accounts = $2,000 (debit). The center estimates uncollectible accounts based on an aging of accounts receivable as shown below.

Age Group		Amount Receivable	Estimated Percent Uncollectible
Not yet due		$ 40,000	5%
0 – 60 days past due		24,000	15%
61 – 120 days past due		14,000	25%
More than 120 days past due		12,000	80%
Total		$90,000
Required:
1.	Estimate the amount of uncollectible receivables.

2.	Record the adjustment for uncollectible accounts on December 31, 2015. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

3.	Calculate the net realizable value of accounts receivable.