Entries for Bad Debt Expense under the Direct Write-Off and Allowance Methods Casebolt Company wrote off the following accounts receivable as uncollectible for the first year of its operations ending December 31: Customer Shawn Brocke Eve Denton- Art Malloy Amount $16,100 15,000 20,400 Cassie Yst TOM 3,900 $55,400 Journals the write-offs under the direct write-off method. If an amount box does not require an entry, leave it blank. the arte-offs under the allowance method. Also, journalize the adjusting entry for uncollectible accounts. The company recorded $3,770,000 of credit sales during the year based in pat history an ype 1 % of ondt sales are expected to be uncollectible. If an amount box does not require an entry, leave blank EBOOK Show Me HOW Print Item Estimating Allowance for Doubtful Accounts Kirchhoff Industries has a past history of uncollectible accounts, as shown below. Age Class Not past due 1-30 days past due 31-60 days past due 61-90 days past due Percent Uncollectible 1% 5 25 35 50 > Over 90 days past due Estimate the allowance for doubtful accounts, based on the aging of receivables schedule below. Kirchhoff Industries Aging of Receivables Schedule Customer Subtotals Balance 160,400 Not Past 1-30 Days 31-60 Days 61-90 Days Due Past Due Past Due 729,100 430,200 Over 90 Days Past Due Past Due 65,600 36,500 36,400 Conover Industries 19,200 19,200 Keystone Company 19,500 19,500 Moxie Creek Inc. 6,100 6,100 Rainbow Company 10,000 10,000 Swanson Company Total receivables i 31,700 815,600 461,900 31,700 1% 170,400 5% 71,700 25% 56,000 55,600 35% 50% Percentage uncollectible Allowance for Doubtful Accounts Check My Work