Computing and Recording Bad Debt Expense During 2009, Wishbone Corporation had a total of $5,000,000 in sales, of which 80% were on credit. At year-end, the Accounts Receivable balance showed a total of $2,300,000, which had been aged as follows

Prepare the journal entry required at year-end to record the bad debt expense under each of the following independent conditions. Assume, where applicable, that Allowance for Bad Debts had a credit balance of $5,500 immediately before these adjustments.
Required:
1. Use the direct write-off method. (Assume that $60,000 of accounts are determined to be uncollectible and are written off in a single year-end entry.)
2. Based on experience, uncollectible accounts existing at year-end are estimated to be 3%
of total accounts receivable.
3. Based on experience, uncollectible accounts are estimated to be the sum of:
1% of current accounts receivable 6% of accounts 1–30 days past due 10% of accounts 31–60 days past due 20% of accounts 61–90 days past due 30% of accounts over 90 days past due

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Age Current 1-30 days past due 31-60 days past due 61-90 days past due Over 90 days past due Amount $1,900,000 200,000 100,000 70,000 30,000 $2,300,000