prepare the adjusted journal entry to record bad debts expenses for the current year . this is the adjusting entry to record bad debt expense and adjust the contra-asset account to its desired balance. the number should be between 7,000 and 8,000

date account name debit credit

account age balance estimated uncollectible percentage

current (not yet due) 96,000 1.0%

1-30 days past due 64,000 2.5%

30-60 days past due 16,000 11.0%

61-90 days past due 6,500 37.0%

over 90 days past due 3,200 70.0%

total 185,700