Required information P6-3 (Algo) Determining Bed Debt Expense Besed on Aglng Anelysls LO6-2 [The following information applies to the questions displayed below] Blue Skies Equipment Company uses the aging approach to estimate bad debt expense at the end of each accounting year. Credit sales occur frequently on terms n/60. The balance of each account recelvable is aged on the basis of three time periods as follows: (1) not yet due, (2) up to one year past due, and (3) more than one year past due. Experlence has shown that for each age group, the average loss rate on the amount of the recelvable at year-end due to uncollectibility Is (a) 8 percent, (b) 12 percent, and (c) 35 percent, respectively. At December 31, 2019 (end of the current accounting year), the Accounts Recelvable balance was $53,000 and the Allowance for Doubtful Accounts balance was $1,090 (credit). In determining which accounts have been pald, the company apples collections to the oldest sales first. To simplify, only five customer accounts are used; the detalls of each on December 31, 2019, follow. P6-3 Pert 1 Required: 1. Compute the total accounts recelvable in each age category