3 E8-7 (Static) Computing Bad Debt Expense Using Aging of Accounts Receivable Method [LO 8-2] 28 its 03:26:50 Brown Cow Dairy uses the aging approach to estimate Bad Debt Expense. The balance of each account receivable is aged on the basis of three time periods as follows:(1) 1 to 30 days old, $12,000 (2) 31 to 90 days old, $5,000, and (3) more than 90 days old, $3,000. For each age group, the average loss rate on the amount of the receivable due to uncollectibility is estimated to be (1) percent. (2) 10 percent, and (3) 20 percent, respectively, At December 31 (end of the current year, the Allowance for Doubtful Accounts balance was $800 (credit) before the end of period adjusting entry is made. Required: 1. Prepare a schedule to estimate an appropriate year-end balance for the Allowance for Doubtful Accounts 2. What amount of Bad Debt Expense should be recorded on December 31? 3. If the unadjusted balance in the Allowance for Doubtful Accounts was a $600 debit balance, what amount of Bad Debt Expense should be recorded on December 317 Book Pin Complete this question by entering your answers in the tabs below. References Required 1 Required 2 Required Prepare a schedule to estimate an appropriate year-end balance for the Allowance for Doubtful Accounts, 1 to 30 31 to 90 Over 10 Accounts Receivable Estimated Uncollectibles) Estimated Uncle (5) Total Required 2 >