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, $$50,300$; $(2)$ up to $180$ days past due, $$15,000$; and $(3)$ more than $180$ days

past due, $$5,600.$ 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 $(1)2$ percent, $(2)12$ percent, and $(3)32$ 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.