1. Calculate the amount of allowance for credit losses at March 31, 2017.

2. Prepare the general journal entry to record the bad debt expense for the year.

3. Post the journal entry to the Allowance for Credit Loss account.

The following information is taken from the accounting records of Sayan Company on March 31, 2017: Trade Receivables: Rs 4,074,000 (Debit Balance) Allowances for Credit Losses: Rs 65,660 (Credit Balance) The ageing analysis of the Trade Receivables at March 31 along with Lifetime Expected Credit Loss Rate (%) are given below: Age Category Not yet due 1-30 days past due 31-60 days past due 61-90 days past due 91-120 days past due Over 120 days past due Total Amount (Rs) 1,927,800 776,300 612,500 455,700 194,600 107,100 4,074,000 Credit Loss Rate (%) 3 6 10 15 25 50