Abernathy's Department Store offers credit to approved customers. In 20X1, total sales for the store were $1,340,997. Of this, 49% of sales are made on Visa, MasterCard, and American Express. 25% is sold by debit card, and the remainder is sold on Abernathy's own credit card. Bill Taylor, the VP-Finance for the store has looked over the sales that took place on the Store's own card, and determined the following information: Accounts Receivable balance at year-end (December 31, 20X1) = $20,514.34 Of the accounts receivable, the following represents the aging: Current 41% 30 days 28% 60 days 18% 90 days 8% >90 days 5% Of the dollar amounts from the above aging table, 5% of the current A/R is estimated to become bad debt, 6% of the 30-day old amounts, 7% of the 60-day, 22% of 90-day, and 58% of >90-day represent the total amount of potential bad debt. On annual credit sales on the Department Store's own accounts, the bad debt amount is estimated at 3% At the start of the year, the Allowance for Doubtful Accounts account had a credit balance of $1,743.3. During the year, the actual accounts written off against the allowance amounted to $787. Required: What if Abernathy's made use of the Balance Sheet/Accounts Receivable method for determining its Allowance for Doubtful Accounts? Calculate the amount of the Bad Debt Expense adjustment at year-end to account for bad debts. Show all your rough work and submit at end of Test. (20 marks) Calendar