On December $31,2023,$ Toro Company$$s Allowance for Doubtful Accounts had an unadjusted credit balance of $$39,000.$ The accountant for Toro has prepared a schedule of the December $31,2023,$ accounts receivable by age and, on the basis of past experience, has estimated the percentage of the receivables in each age category that will become uncollectible. This information is summarized as follows:

December $31,2023$ Accounts Receivable Age of Accounts Receivable Expected Percentage

Uncollectible

$ $1,900,000$ Not due $($under $30$ days$)1\mathrm{.}25\%$

$899,0001$ to $30$ days past due $2\mathrm{.}00$

$192,00031$ to $60$ days past due $6\mathrm{.}50$

$123,00061$ to $90$ days past due $33\mathrm{.}00$

$31,000$ Over $90$ days past due $68\mathrm{.}00$

Required:

$1.$ Calculate the amount that should appear in the December $31,2023,$ balance sheet as the allowance for doubtful accounts.

$2.$ Prepare the journal entry to record bad debt expense for $2023.$