Jim Co. uses aging of Accounts Receivable to estimate uncollectible. The unadjusted trial balance amount of accounts receivable on Dec. 31, 2016, has a balance that is

days outstanding amount estimated uncollectible

0-60 120,000 1%

61-120 90,000 2%

over 120 100,000 6%

total: 310,000

Activity during FY 2016 consists of:

7/15: Jim Co wrote off Bob Co. account as not collectable for the amount of $7,000

10/20: Jim Co. recovered $4000 from Calvin Co. for settlement of their prior debt that had been written off FY 2015.

Jim Co. Dec. 31, 2015 allowance for uncollectible accounts was $2,200. Using the aging method what amounts should Jim Co. report for Dec. 31, 2016

• Allowance for uncollectible accounts
• Bad Debt Expense

Please show work...