Casilda Company uses the aging approach to estimate bad debt expense. The ending balance of each account receivable is aged on 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, $$50,100$; $(2)$ up to $180$ days past due, $$15,300$; and $(3)$ more than $180$ days

past due, $$4,100.$ 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 $(1)4$ percent, $(2)11$ percent, and $(3)31$ percent, respectively. At December $31,$ the end of the current year, the

Allowance for Doubtful Accounts balance is $$500($credit$)$ 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.$)$

Journal entry worksheet

Record the adjusting journal entry for bad debt expense.

Note: Enter debits before credits.

the basis of three time periods as follows: $(1)$ not yet due, $$50,100$; $(2)$ up to $180$ days past due, $$15,300$; and $(3)$ more than $180$ days

past due, $$4,100.$ 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 $(1)4$ percent, $(2)11$ percent, and $(3)31$ percent, respectively. At December $31,$ the end of the current year, the

Allowance for Doubtful Accounts balance is $$500($credit$)$ 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.$)$

Journal entry worksheet

Record the adjusting journal entry for bad debt expense.

Note: Enter debits before credits.