Casilda Company uses the aging approach to estimate bad debt expense. The ending balance of each account receivable is aged on the basis of three time periods as follows: $(1)$ not yet due, $$51,700$; $(2)$ up to $180$ days past due, $$15,700$; and $(3)$ more than $180$ days past due, $$5,200.$ Experience has shown that for each age group, the average loss rate on the amount of the receivables at year$-$end due to uncollectibility is $(1)3$ percent, $(2)13$ percent, and $(3)31$ percent, respectively. At December $31,$ the end of the current year, the Allowance for Doubtful Accounts balance is $$300($credit$)$ before the end$-$of$-$period adjusting entry is made.

Required:

Prepare the appropriate bad debt expense adjusting entry for the current year.

Show how the various accounts related to accounts receivable should be shown on the December $31,$ current year, balance sheet.

Complete this question by entering your answers in the tabs below.

Prepare the appropriate bad debt expense adjusting entry for the current year. $($If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.$)$