Exercise $7-13($Algo$)$ Uncollectible accounts; allowance method estimating bad debts as percentage of

net sales vs$.$ direct write$-$off method $[$L$07-5,7-6]$

Ervin Company uses the allowance method to account for uncollectible accounts receivable. The allowance account is adjusted based

on bad debt expense as a percentage of credit sales. For $2024,$ net credit sales totaled $$5,300,000,$ and the estimated bad debt

percentage is $1\mathrm{.}40\%.$ No previously written$-$off accounts receivable were reinstated during $2024.$ The allowance for uncollectible

accounts had a credit balance of $$50,000$ at the beginning of $2024$ and $$44,000,$ after adjusting entries, at the end of $2024.$

Required:

What is bad debt expense for $2024$ as a percent of net credit sales?

Assume Ervin makes no other adjustment of bad debt expense during $2024.$ Determine the amount of accounts receivable

written off during $2024.$

If the company uses the direct write$-$off method, what would bad debt expense be for $2024?$