Drumpf suppy has the following accounts receivable aging schedule as at december 31,2015.

Accounts receivable Age	Amount	proportion expected to dedaulf	allowance required
current	$150,000	0.5%
1-30 days past due	$65,000	1.0%
31-45 days past due	$16,500	13.0%
46-90 days past due	$4,500	20.0%
91-135 days past due	$3,000	25.0%
over 135 days past due	$1,500	60.0%

The balance in drumpf's allowance for doubtful accounts at the beginning of the year is $6,000(credit). During the year, accounts in the total amount of $4,500 were writeen off.

1.use formulas to calculate the allownace required for each line and the total allowance requied.

2.based on aging of receivables, the bad debit expense is___ (build the bad debt expense equation)

3. prepare the journal entry for bad debt expense

4.determine the bad debt expense using the percentafe of credit sales method at 1.5%. Credit sales for the year are $493,000. And prepare the journal entry for bad expense

5. Which method will result in the higher net income for the company?

Which method would a for-profit company probably prefer in these circumstance?

Please explain.