6: Accounts Receivable (12 Marks) Mountain Corp. is a manufacturing company for mountain bikes. Given the current economic downturn, the Company is having increased trouble collecting its accounts receivable from retailers. The total sales for the year were $900,000. Of these sales, $860,000 were credit sales. Allowance for Doubtful Accounts is at a credit balance of 2,000. The company uses the Aging of Accounts receivable method (Balance Sheet Approach) You were provided the following additional information: Age of Accounts Receivable Current Accounts Estimated Percent Amount Uncollectible $110,000 2% 1 - 30 days 88,000 3% 31-60 17,000 7% 61-90 14,000 25% Over 90 days 8,000 40% Total Accounts Receivable $237,000 Required: a) Calculate the bad debt expense using the Aging of Accounts Receivable method (3 Marks) Show Calculations. Bad Debt Expense at December 31, 2020 = Calculations: $