$300.000 Exercise 2 Bad debt expense using the aging of account receivable method: Buaseck Inc. uses the aging of accounts receivable method to determine bad debt expense. The following information regarding the fiscal year 2017 is provided: Accounts Receivable, end Days Outstanding Estimated Loss Rate Under 90 davs 2% $50,000 90 to 180 days $6.000 Over 180 days Beginning of period allowance for uncollectible accounts: $7,000 Actual write-offs of bad debt during the period: $1,000 Required: 1. Provide the journal entry for the actual write-offs of uncollectible debt during the year. 2. Record the adjusting entry for bad debt expense in 2017. 10% 30%