Glencoe Supply had the following accounts receivable aging schedule at the end of a recent year.

The balance in Glencoe€™s allowance for doubtful accounts at the beginning of the year was $58,620 (credit). During the year, accounts in the total amount of $62,400 were written off.
Required:
1. Determine bad debt expense.
2. Prepare the journal entry to record bad debt expense.
3. By how much would bad debt expense reported on the income statement have changed if Glencoe had written off $90,000 of receivables as uncollectible during the year?

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Accounts Receivable Age Proportion Expected Allowance Required to Default $310,500 47,500 25,000 12,800 6, 100 200 0.005 1,553 475 3,250 2,560 1,525 2,520 $11,883 Current 1-30 days past due 31-45 days past due 46-90 days past due 91-135 days past due Over 135 days past due 0.25 0.60