Accounting for Receivables.

The following information is provided about the outstanding Accounts Receivable of the Dr. Doofenshmirtz Corporation. They total $120,000. Of these, $60,000 have been outstanding 0-30 days, $40,000 have been outstanding 31-60 days, and $20,000 have been outstanding for more than 60 days. Of the 0-30 day category, 6% are expected to be uncollectible, of the 31-60 day category, 8% are expected to be uncollectible, and of the over-60-day group, 20% are expected to be uncollectible.

3) One of Doofenshmirtz Corporations best customers, super-spy Perry the Platypus, has gone bankrupt. He owes the firm $1,700 for goods purchased on credit and will be unable to pay. Record this event.