Question

Determining Bad Debt Expense Using the Aging Method At the beginning of the year, Tennyson Auto Parts had an accounts recelvable balance of s31,800 and a balance in the alowance for doubtful accounts of $2,980 (oredit). During the yea Tennyson ha aedit sales of s624,300, collected accounts receivable in the amount of s602,700, wrote om $18,600 of accounts recevable, and had the following data for accounts receivable at the end of the period Proportion Expected Receivable Age to Default $18,700 0.01 1-15 days past due 5.800 0.02 16-15 days past due 3,100 0.08 46-90 days past due 0.15 over 90 days past due 2,400 $33,100 Required Determine the desired postadUustment balance in allowance for doubtful accourts, 2. Determine the balance in allowance for doubtful accounts before the bad debt expense adjusting entry post 1801 3. Compute bad debt expense, 17421

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