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Sylvan Esso Company has a $2,000 debit balance in the Allowance for Doutul Accounts at December 31, 2002. The curent year's prov for has
Sylvan Esso Company has a $2,000 debit balance in the Allowance for Doutul Accounts at December 31, 2002. The curent year's prov for has not yet been performed. The company uses the percentage-of-receivables basis for estimating uncollectible accounts. An aging of the accounts at the following Total Accounts Receivable Current 1-30 days 31-40 days 61-90 days Over 90 days $202.000 $150,000 $30,000 $12.000 7.000 1% 3% 12% Amount Estimated % Uncollectible 0% $2.000 30% INSTRUCTIONS: Complete the following questions by filling in the blank. Make sure you write the numbers appropriately. No 5 signs. Use COMMAS (NO- $10000) (NO-10000) (NO-$10,000) (YES-10,000) Failure to follow these instructions will result in your answer to be considered incorrect 1) Based on the previous information, the amount for Allowance for Doubtful Accounts that should appear on the December 31 Balance Sheet 2) Based on the information above, what is the Bad Debts Expense that would be recorded for the current year of 2022?
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