Bad Debt Expense: Aging Method Glencoe Supply had the following accounts receivable aging schedule at the end of a recent year. Accounts Receivable Age Proportion Expected to Default Allowance Required Amount Current $310,500 0.005 0 $1,553 47,500 0.01 475 25,000 0.13 3,250 1-30 days past due 31-45 days past due 46-90 days past due 1-135 days past due 12,800 0.20 2,560 6,100 0.25 1,525 Over 135 days past due 4,200 0.60 2,520 $11,883 The balance in Glencoe's allowance for doubtful accounts at the beginning of the year was $58,620 (credit). During the year, accounts in the total amount of $62,400 were written off. Required: 1. Determine bad debt expense. $ 12,555 X Feedback Check My Work 1. The aging method attempts to estimate the ending balance in the Allowance for Doubtful Account 2. Prepare the journal entry to record bad debt expense. Bad Debt Expense 12,555 X 12.555 X Allowance for Doubtful Accounts Record adjusting entry for bad debt expense estimate Feedback Check My Work 2. The aging method attempts to estimate the ending balance in the Allowance for Doubtful Account 3. If Glencoe had written off $90,000 of receivables as uncollectible during the year, how much would bad debt expense reported on the income statement have changed? $ 52,323 X