Bad Debt Expense Crocket Corporation prepared the following aging schedule of its accounts receivable at December 31, 2000:

Crocket reported sales on account of $2,600,000 during 2000 and wrote off $37,600 of accounts receivable as uncollectible for the year. Accounts receivable at January 1, 2000, was $895,000 and the allowance for uncollectible accounts was $41,200.

a. Compute the required balance in the allowance for uncollectible accounts at December 31, 2000.

b. Compute the amount that Crocket Corporation must record as bad debt expense for 2000 to bring the balance in the allowance for uncollectible accounts to the required level.

c. Compute the balance in accounts receivable at December 31, 2000.

d. Compute the amount of money received as payment on accounts receivable during 2000.

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Number of Days Outstanding 0-20 Estimated Amount Uncollectible Percentage $540,000 2 21-40 180,000 3 41-60 90,000 4 61-80 60,000 5 Over 80 70,000 7