Allowance Method for accounting for bad debt, aging method:

Before recording the December 31, 2017 adjustments, Miller Company's allowance for doubtful accounts had a credit balance of $3,300. A schedule of December 31, 2017 accounts receivable by age is summarized as follows:

December 31, 2017 Age of Uncollectible

Accounts receivable Accounts receivable Percent expected

$456,000 Current 0% =

284,000 31 - 60 days past due 3% =

112,000 61 - 90 days past due 8% =

78,000 over 90 days past due 25% =

Calculate the balance in the allowance for doubtful accounts and prepare the journal entry to record the December 31, 2017 adjusting entry for bad debt