Bad Debt Expensel Ang Method Glencoe Suppy had the flowing accounts receivabung schedule at the end of a recent year Accounts Proportion Expected Allowance Receivable Age Amount to Default Required Current 1710.00 1-3 days paste 47.500 0.01 475 31-45 days past de 25.000 0.13 3.250 46-90 days post doe 12,500 0.20 2,560 91-135 days past due 6.100 0.25 1.525 Over 135 days paste 4,200 0.60 2,520 $11,583 The balance in Glencoe allowance for doubtful accounts at the beginning of the year was 548,240 (credit). During the your accounts in the total amount of 551,232 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 88 (Record adjusting entry for bad debt expense estimate) 3. If Glencoe had written of $68,000 of receivables as uncollectible during the year how much would bad debt expense reported on the income statement have changed