Exercise 2 Bad debt expense using the aging of account receivable method: Russeck Inc. uses the aging of accounts receivable method to determine bad debt expense. The following information regarding the fiscal year 2017 is provided: Accounts Receivable, end $300,000 $50,000 $6,000 Days Outstanding Under 90 days 90 to 180 days Over 180 days Estimated Loss Rate 2% 10% 30% Beginning of period allowance for uncollectible accounts: $7,000 Actual write-offs of bad debt during the period: $1,000 Required: 1. Provide the journal entry for the actual write-offs of uncollectible debt during the year. 2. Record the adjusting entry for bad debt expense in 2017