Palmer and Johnson LLP, an accrual basis law firm, showed an Accounts Receivable balance of $520,000 on its books at the end of 2019. The firm uses the Accounts Receivable Aging Method in determining its Allowance for Doubtful Accounts and Bad Debt Expense. An aging schedule of the Accounts Receivable showed the following:

Estimated % Balance Age of Receivable Uncollectible $ 180,000 under 30 days 3.0% 110,000 30-60 days 5.0 % 100,000 61-120 days 10.0% 50,000 121-180 days 20.0% 50,000 180-240 days 25.0% 30.000 over 240 days 30.0 % 520,000Here are some T-accounts (with a couple of beginning balances) that you may find useful: Income Summary Allowance for 2015 Doubtful Accounts Cash (partial) Receivable (Partial) Accounts 520,000 32,000