Question 1 Buffalo Industries uses the allowance method of accounting for bad debts. The company produced the following aging of the accounts receivable at year-end. (a) Calculate the total estimated bad debts on the below information. Total $422,000 0-30 $259,000 Number of Days Outstanding 31-60 61-90 91-120 $82,000 $44,000 $24,000 Accounts Receivable Over 120 $13,000 % uncollectible 1% 4% 5% 8% 11% Estimated bad debts