. S & R Company uses the aging of accounts receivable approach to estimate bad debt expense. On December 31, 2020, an analysis of accounts receivable revealed the following: Schedule of Accounts Receivable by Age December 31, 2020 Accounts Receivable Age of Accounts Receivable Expected Percentage Uncollectible Allowance for doubtful accounts $155,000 Not yet due 1% 45,000 1-30 days past due 4% 10,500 31-60 days past due 10% 2500 Over 60 days past due 60% (a) Calculate the amount of allowance for doubtful accounts that should be reported on the balance sheet at December 31, 2020. (b) Calculate the amount of bad debts expense that should be reported on the 2020 income statement, assuming that the balance of Allowance for Doubtful Accounts on January 1 was $44,000 (credit balance) and accounts receivable written off during the year totaled $49,200. (c) Present the appropriate general journal entry to record bad debts expense on December 31, 2020.

Use free 13. S&R Company uses the aging of accounts receivable approach to estimate bad debt expe December 31, 2020, an analysis of accounts receivable revealed the following: Schedule of Accounts Receivable by Age December 31, 2020 Accounts Receivable Age of Accounts Receivable Allowance for Expected Percentage Uncollectible account $155,000 Not yet due 196 45,000 1-30 days past due 4% 10,500 31-60 days past due 1096 2500 Over 60 days past due 60% (a) Calculate the amount of allowance for doubtful accounts that should be reported ont balance sheet at December 31, 2020. (b) Calculate the amount of bad debts expense that should be reported on the 2020 incon statement, assuming that the balance of Allowance for Doubtful Accounts on January 1 wa $44,000 (credit balance) and accounts receivable written off during the year totaled $49,2 (C) Present the appropriate general journal entry to record bad debts expense on Decembe 2020