Forester, Inc.$$s $$180,000$ Accounts Receivable balance at December $31$ consisted of $$160,000$ current balances and $$20,000$ past$-$due balances. At December $31,$ the Allowance for Doubtful Accounts had a credit balance of $$1,600.$ River Forest estimated that $2\%$ of current balances and $15\%$ of past$-$due balances will prove uncollectible.

The adjusting entry to record credit losses is:

Select one:

A$.$

Bad Debts Expense

$7,400$

$$

$$

Allowance for Doubtful Accounts

$$

$7,400$

$$

B$.$

Bad Debts Expense

$5,800$

$$

$$

Allowance for Doubtful Accounts

$$

$5,800$

$$

C$.$

Bad Debts Expense

$4,200$

$$

$$

Accounts Receivable

$$

$4,200$

$$

D$.$

Bad Debts Expense

$4,600$

$$

$$

Allowance for Doubtful Accounts

$$

$4,600$

$$

What was Perkins' average collection period for the year?

Select one:

A$.$

$15\mathrm{.}5$ days

B$.$

$95\mathrm{.}4$ days

C$.$

$43\mathrm{.}0$ days

D$.$

$85\mathrm{.}9$ days