Return to course Support" My Subscriptions Semya Andrews Business Course Question 2 Not complete Marked out of 5.00 P Flag question Reporting Uncollectible Accounts and Accounts Receivable LaFond Company analyzes its accounts receivable at December 31, 2016, and arrives at the aged categories below along with the percentages that are estimated as uncollectible. Age Group Current (not past due) 1-30 days past due 31-60 days past due 61-120 days past due 121-180 days past due Over 180 days past due Total accounts receivable Accounts Receivable Estimated Loss % $250,000 0.40% 90,000 1.0 20,000 2.0 11,000 5.0 6,000 10.0 4,000 25.0 $381,000 At the beginning of the fourth quarter of 2016, there was a credit balance of $4,370 in the Allowance for Uncollectible Accounts. During the fourth quarter, LaFond Company wrote off $3,810 in receivables as uncollectible. a. What amount of bad debts expense will LaFond report for 2016? $ 0 b. What is the balance of net accounts receivable that it reports on its December 31, 2016, balance sheet? $ 0 C. Set up T-accounts for both Bad Debts Expense and for the Allowance for Uncollectible Accounts. Enter any unadjusted balances along with the dollar effects of the information described (including your results from parts a and b). Bad Debts Expense Allow. For Uncoll. Accounts Beg. Bal 0 0 0 0 0 0 0 (a) Balance 0 0 Write-off 0 0 (a)