Bad Debt Expense: Aging Method Glencoe Supply had the following accounts receivable aging schedule at the end of a recent year. Accounts Proportion Expected Allowance Receivable Age Amount to Default Required Current $310,500 0.005 $1,553 1-30 days past due 47,500 0.01 475 31-45 days past due 25,000 0.13 3,250 46-90 days past due 12,800 0.20 2,560 91-135 days past due 6,100 0.25 1,525 Over 135 days past due 4,200 0.60 2,520 $11,883 The balance in Glencoe allowance for doubtful accounts at the beginning of the year was $47,730 (credit). During the year, accounts in the total amount of $51,232 were written off. Required: 1. Determine bad debt expense. 2. Prepare the journal entry to record bad debt expense. If an amount box does not require an entry, leave it blank. Bad Debt Expense Allowance for Doubtful Accounts