Mornin Corporation provides the following information regarding accounts receivable during 2022, its second year of operations. (Click the icon to view the information regarding accounts receivable.) The company performs an aging of accounts receivable in order to estimate its allowance for uncollectible accounts. Mornin uses the following estimated percentages of receivables expected to be uncollectible within each category: (Click the icon to view the allowances provided.) (Click the icon to view the aged schedule of accounts receivable.) What is the journal entry to record the bad debt expense for 2022? What is the NRV of accounts receivable balance at the end of the year? Prepare the journal entry to record the bad debt expense for 2022. (Record debits first, then credits. Exclude explanations from any journal entries.) Account Year-end Determine the NRV of accounts receivable balance at the end of the year. (Abbreviations Used: NRV = Net realizable value.) The NRV of accounts receivable balance at the end of the year is Data table More info Percentage Estimated Net credit sales during 2022 Accounts receivable at December 31, 2022 (end of the year) $ 6,531,000 $ 1,680,000 Aging Category Current to Be Uncollectible 1% Allowance for uncollectible accounts (credit balance), December 31, 2022, unadjusted $ 127,000 1-30 days past due 6 31-60 days past due 17 61-90 days past due 35 Print Done Over 90 days past due 97 Data table Mornin's aged schedule of receivables is as follows: Mornin Corporation: Aged Schedule of Accounts Receivable Past Due 1-30 31-60 Customer Current Days Mack Brothers $ Days 290,000 $ 430,000 61-90 Days Over 90 Days Totals $ 720,000 Uberto Company $ 290,000 290,000 Warner Monroe, Inc. 140,000 290,000 430,000 $ 340,000 $ 290,000 630,000 Mele Products $ 290,000 $ 430,000 $ 720,000 $ 340,000 $ 290,000 $2,070,000 Totals Print Done