Question

Sunny LTD. recorded $6,200,000 in credit sales during 2022. The balance of the allowance for doubtful accounts at November 31, 2022, is $5,000. Accounts receivable at November 31, 2022 is made up of the following:

Account Classification	Amount	% Uncollectible
1-30 days	$700,000	1.50%
31-60 days	$320,000	3%
61-90 days	$110,000	5%
Over 90 days	$50,000	20%

Calculate and prepare the journal entry for bad debt expense for 2022 using the aging of A/R approach.