Jarden Company has credit sales of $2.80 million for year 2015. On December 31, 2015, the companys Allowance for Doubtful Accounts has an unadjusted credit balance of $22,075. Jarden prepares a schedule of its December 31, 2015, accounts receivable by age. On the basis of past experience, it estimates the percent of receivables in each age category that will become uncollectible. This information is summarized here.

December 31, 2015 Accounts Receivable

Age of Accounts Receivable

Expected Percent Uncollectible

$

560,000

Not yet due

1.40

%

224,000

1 to 30 days past due

2.15

44,800

31 to 60 days past due

6.65

22,400

61 to 90 days past due

33.50

4,480

Over 90 days past due

70.00

Estimate the required balance of the Allowance for Doubtful Accounts at December 31, 2015, using the aging of accounts receivable method.

	Accounts Receivable		Percent Uncollectible (#.##%)		Estimated Uncollectible
Not due:		x		=
1 to 30:		x		=
31 to 60:		x		=
61 to 90:		x		=
Over 90:		x		=
Estimated balance of allowance for uncollectibles					$0

Prepare the adjusting entry to record bad debts expense at December 31, 2015.

Record the estimated bad debts for (Dec 31)