Credit sales (for year)		$1,284,000
Credit sales returns and allowances (for year)		108,000
Accounts receivable (balance 30 June 2015)		392,000
Allowance for doubtful debts (credit balance 30 June 2015)		2,000

In the past, the company's yearly bad debts expense had been estimated at 2% of net credit sales revenue. It was decided to compare the current method with an ageing of the accounts receivable method. The following analysis was obtained with respect to the accounts receivable:

			Balance		% estimated uncollectable
Accounts not yet due			$210,700		1/2
Accounts overdue:	1030 days		73,200		2
	3160 days		52,800		10
	61120 days		30,500		25
	121 days and over		24,800		40
			$392,000

Great Outdoors Ltd General jourmal (extract) Net credit sales method Debit Credit Date Particu 2015 23520 June 30 Bad debts expense Allowance for doubtful debts 23520 (Allowance made on 2% of net credit sales) Great Outdoors Ltd General jourmal (extract) Ageing of accounts receivable method Credit Date Particu Debit 2015 23343 June 30 Bad debts expense Allowance for doubtful debts 23343 Allowance made on ageing of accounts receivable) Attempts: 1 of 1 used Determine the balance in the allowance for doubtful debts account under both methods. (Post entries in the order displayed in the problem statement. Leave blank any fields following your answers that do not require an entry. For example, if there are two rows for entries, and only one entry is required, enter your answer in the first row and leave the second row blank.) Allowance for doubtful debts (Net credit sales method) 2015 2015 Allowance for doubtful debts (Ageing of accounts receivable method) 2015 2015 Attempts: 0 of 1 used SUBMIT ANSWER SAVE FOR LATER