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My question relates to accounts receivable calculations What is the bad debt expense for the year and what is the balance of the AR account?

My question relates to accounts receivable calculations

What is the bad debt expense for the year and what is the balance of the AR account? Thanks

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L05 E542. Estimating Uncollectible Accounts and Reporting Accounts Receivable Collins Company analyzes its accounts receivable at December 31 and arrives at the age categories below along with the percentages that are estimated as uncollectible. The balance of the allowance for uncollectible accounts is $l.l00 on December 31. before any adjustments. Age Group Accounts Receivable Estimated Loss 9'0 0-30 days past due ................ $110,000 1% 3160 days past due ............... 40,000 2 61-120 days past due .............. 27.000 5 121-180 days past due ............. 14.000 10 Over 180 days past due ............. 9.000 25 Total accounts receivable ............ $200,000 a. What amount of bad debts expense will Collins report in its income statement for the year? I). Use the nancial statement effects template to record Collins's bad debts expense for the year. c. What is the balance of accounts receivable on its December 3| balance sheet

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