Aging Bucket

Amount

Outstanding

Reserve Rate

Current

1-90 days

91-180 days

181-365 days

1366+ days

300,000

180,000

100,000

50,000

15,000

1%

3%

10%

50%

100%

March sales were $320,000

February ending balance in Allowance for Doubtful Accounts was $50,000 Credit

Finland uses the Aging of Receivables Method at the rates noted in the table above. What journal entry should Finland book at the end of March to estimate bad debt?

Finland Inc has the following Accounts Receivable Aging on March 31 March sales were $320,000 February ending balance in Allowance for Doubtful Accounts was $50,000 Credit Finland uses the Aging of Receivables Method at the rates noted in the table above. What joumal entry should Finland book at the end of March to estimate bad debt? DR: CR