Estimating Uncollectible Accounts and Reporting Accounts Receivable LaFond Company analyzes its accounts receivable at December 31, and arrives at the age categories below along with the percentages that are estimated as uncollectible. Accounts Estimated Receivable Loss % $ 90,000 296 20,000 4 Age Group 0-30 days past due 31-60 days past due 61-120 days past due 121-180 Over 180 days past due Total accounts receivable 11,000 5 6,000 10 4,000 25 $ 131,000 The balance of the allowance for uncollectible accounts is $520 on December 31, before any adjustments. (a) What amount of bad debts expense will LaFond report in its income statement for the year? $ 0 X (b) Use the financial statement effects template to record La Fond's bad debts expense for the year. Use negative signs with your answers, when appropriate. Balance Sheet Income Statement Noncash Assets Cash Asset Liabilities Contributed Capital + Transaction Record bad debts expense Earned Capital O Revenue Net Income 0 0 Expenses OD ou OP 0 (c) What is the balance of accounts receivable on it December 31 balance sheet? $ 0 X Check