Estimating Bad Debts Expense and Reporting Receivables

At December $31,$ Barber Company had a balance of $$1,890,000$ in its accounts receivable and a balance of $$11,700$ in its allowance for uncollectible accounts. The company then aged its accounts as follows.

Current$$1,557,000$

$160$ days past due $216,000$

$61180$ days past due $76,500$

Over $180$ days past due $40,500$

Total accounts receivable$$1,890,000$

The company has experienced losses as follows: $1\%$ of current balances, $5\%$ of balances $160$ days past due, $15\%$ of balances $61180$ days past due, and $40\%$ of balances over $180$ days past due. The company continues to base its allowance for uncollectible accounts on this aging analysis and percentages.

a$.$ What amount of bad debts expense does Barber report on its income statement for the year?

Note: Round answers to the nearest dollar, if applicable.

$Answer $1$

b$.$ Show how Barber$$s December $31$ balance sheet will report the accounts receivable and the allowance for uncollectible accounts.

Note: Round answers to the nearest dollar, if applicable.

Answer $2$

Accounts receivable, net: