ABC uses the aging of accounts method. The beginning balance in the Allowance account was $ 26,000. During the year ABC wrote off $119,000 of accounts receivable. At the end of the year ABC had $700,000 in Accounts Receivable with the following ages: Amount $450,000 $200,000 $50,000 Age 1-30 days 31-90 days greater than 90 days ABC estimates that 1% of sales 1-30 days old will be uncollected; 30% of sales aged 31-90 days will be uncollected; and that 80% of sales aged more than 90 days will be uncollected. 3. What would be the ending balance in the allowance ? 4. What is the Bad Debt Expense for the year?

ABC uses the aging of accounts method. The beginning balance in the Allowance account was $26,000. During the year ABC wrote off $119,000 of accounts receivable. At the end of the year ABC had $700,000 in Accounts Receivable with the following ages: \begin{tabular}{ll} Amount & \multicolumn{1}{c}{ Age } \\ $450,000 & 130 days \\ $200,000 & 3190 days \\ $50,000 & greater than 90 days \end{tabular} ABC estimates that 1% of sales 130 days old will be uncollected; 30% of sales aged 31-90 days will be uncollected; and that 80% of sales aged more than 90 days will be uncollected. 3. What would be the ending balance in the allowance? 4. What is the Bad Debt Expense for the year