Duiz: Test 2 The October 1, 2020 records of Tower Tower Communications include these accounts Debit Credit Accounts Receivable 260,000 Allowance for Uncollectible Accounts 8,000 At year-end, the company ages its receivables and adjusts the balance in Allowance for Uncollectible Accounts to correspond to the following aging schedule: During the last quarter of 2020, the company completed the following selected transactions: Total 0-30 31-60 61-90 Over 90 Balance Days Days Days Days $260.000 $154,000 $38,000 $13,000 $35,000 Estimated 0.20% 0.50% 5% Uncollectible: 30% 2020: . Oct. 31: Wrote off the following accounts receivable as uncollectible: Tony's Storage $600 and Tiffany Energy, $1,400. Dec. 31: One of its customers, Cantalon Company, agreed sign a 60-day notes receivable to replace a $1,300 accounts receivable clue on that day, Dec. 31: Adjusted the Allowance for Uncollectible Accounts and recorded bad debt expense at year-end, based on the aging of receivables, which follows. Requirements 1. What is the bad debt expense for 2020? Allowance for Uncollectible Accounts to correspond to the following aging schedule: During the last quarter of 2020, the company completed the following selected transactions: Total 0-30 31-60 61-90 Over 90 Balance Days Days Days Days $260,000 $154,000 $38,000 $13,000 $35,000 Estimated 0.20% 0.50% 5% 30% Uncollectible: 2020: Oct. 31: Wrote off the following accounts receivable as uncollectible: Tony's Storage, $600; and Tiffany Energy, $1,400. Dec. 31: One of its customers, Cantalon Company, agreed to sign a 60-day notes receivable to replace a $1,300 accounts receivable due on that day. Dec. 31: Adjusted the Allowance for Uncollectible Accounts and recorded bad debt expense at year-end, based on the aging of receivables, which follows. Requirements: 1. What is the bad debt expense for 2020? 2. What is the accounts receivable on December 31, 2020 Next