Estimating Bad Debts Expense and Reporting Receivables At December 31, Barber Company had a balance of $294,000 in its accounts receivable and an unused balance of $1,820 in its allowance for uncollectible accounts. The company then aged its accounts as follows.

Current	$242,200
160 days past due	33,600
61180 days past due	11,900
Over 180 days past due	6,300
Total accounts receivable	$294,000

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? $Answer

b. Show how Barbers December 31 balance sheet will report the accounts receivable and the allowance for uncollectible accounts. Note: Round your answers to the nearest whole dollar. Note: Do not use a negative sign with your answers.

Current Assets
Accounts receivable	Answer
Less allowance for uncollectible accounts	Answer	Answer