Instructions:

Barrington estimates the amount of its Accounts Receivable that will become uncollectible by aging its accounts receivable. Information on outstanding receivables is as follows:

Percentage

Estimated to be

Days Outstanding Amount Uncollectible

0-30 $500,000 4%

31-60 250,000 12%

61-90 125,000 30%

More than 90 25,000 50%

Prepare the journal entry to record bad debt expense.