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xercise 5-4 Bad Debt Expense: Aging Method Glencoe Supply had the following accounts receivable aging schedule at the end of a recent year. Accounts Proportion Expected Allowance Receivable Age Required to Default Amount 0.005 1,553 Current $310,500 1-30 days past due 47,500 0.01 475 25,000 31-45 days past due 3,250 0.13 46-90 days past due 12,800 0.20 2,560 6,100 91-135 days past due 1,525 0.25 Over 135 days past due 4,200 0.60 2,520 $11,883 The balance in Glencoe's allowance for doubtful accounts at the beginning of the year was S58,620 (credit). During the year, accounts in the total amount of S62,400 were written off. Required l. Determine bad debt expense. 2. Prepare the journal entry to record bad debt expense 3. By how much would bad debt expense reported on the income statement have changed if Glencoe had written off $90,000 of receivables as uncollectible during the year? OBJI