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(c) The firm has the following outstanding invoices: Age of Accounts Receivable Balance Receivable Balance Receivable Balance Receivable Small Invoices Large Invoices Total $30,000 $20,000

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(c) The firm has the following outstanding invoices: Age of Accounts Receivable Balance Receivable Balance Receivable Balance Receivable \"Small\" Invoices \"Large\" Invoices Total $30,000 $20,000 $50,000 1-60 days past due 18,000 12,000 30,000 61-90 days past due 9,000 l 6,000 15,000 Over 90 days past due 1,000 l 4,000 5,000 Total $58,000 l $42,000 $100,000 Using the outstanding invoice amounts above, what is the Expected Bad Debt from Small invoices? What is it for Large invoices? (Provide two separate numbers. This exercise mirrors what we discussed in class.)

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