Below is a schedule of aging analysis - A/R for December 31 st , 2015 and 2016

Number of days Estimated % Dec 31

Outstanding

2016 2015

0-30 days 3% 240000 220000

31-60 days 6% 104000 86000

61-90 days 12% 62000 52000

Over 90 days 20% 34000 22000

Total 440000 380000

a) At Dec 31st 2015 an unadjusted balance in Allowance for doubtful accounts was a credit of $3000

b) In 2016 , $28000 of accounts were written off as uncollectible and $3000 of accounts previously written off were recovered.

Question : record the adjusting entry relating to bad debts on Dec31,2015 ?

Is my answer below correct based on my calculated aging schedule ?

My Aging schedule 2016

Number of days Estimated % Dec 31

Outstanding

2016 estimated uncollectible

0-30 days 3% 240000 7200

31-60 days 6% 104000 6200

61-90 days 12% 62000 7440

Over 90 days 20% 34000 6800

Total 440000 27640

Aging schedule 2015

Number of days Estimated % Dec 31

Outstanding

2015 estimated uncollectible

0-30 days 3% 220000 6600

31-60 days 6% 86000 5160

61-90 days 12% 52000 6240

Over 90 days 20% 22000 4400

Total 380000 22400

My Answer ....

bad debt expense $19400

Allowance for doubtful accounts

($22400 - 3000) $19400