Calculator Problem 5-SSA (Algorithmic) Determining Bad Debt Expense Using the Aging Method At the beginning of the year, Tennyson Auto Parts had an accounts receivable balance of 531,000 and a balance in the allowance for doubtful accounts of $2,980 (credit). During the year, Tennyson bad credit sales of 5624,300, collected accounts receivable in the amount of 5602,700, wrote of $18.600 of accounts receivable, and had the following data for accounts receivable at the end of the period: Accounts Proportion Expected Receivable Age Amount to Default Current $21.500 0.01 1-15 days past due 5.300 0.02 16-45 days past due 3.100 0.08 46-90 days past de 3.600 0.15 Over 90 days past due 2,400 0.30 $35,900 Required: 1. Determine the desired postadjustment balance in allowance for doubtful accounts. 2. Detum Acoounting numerio Ponce for doubtfut accounts before the bad debt expense adjusting entry is posted 3. Compute bad debt expenso. 4. Prepare the adjusting entry to record bad debt expense Previous Next