9.4 Aging method on December 31, 20x2, Beaver Company has a debit balance of $1,500 for Allowance for Uncollectible Accounts before any year-end adjustment. Beaver Company also has the following information for its accounts receivable and the estimated percentages of bad debts for different past-due amounts: Age Group (Days past due) 0-30 Accounts Receivable $50,000 20,000 10,000 Estimated Percent Uncollectible 5% 10% 20% 31-60 61-90 Required: What is the amount of bad debt expense to be reported on Beaver Company's financial statements for 20x2? 9.8 Accounting for uncollectible accounts Geranium Company uses the allowance method for estimating uncollectible accounts expense. Required: Prepare journal entries to record the following transactions: January 5 Sold merchandise to Magnolia Company for $1,500 on terms of n/15. April 15 Received $400 from Magnolia Company in settlement of accounts receivable. August 21 Wrote off as uncollectible the balance of Magnolia Company account when it declared bankruptcy. October 5 Unexpectedly received a check for $550 from Magnolia Company