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Table A Owes Not Due Yet 1-30 days late 31-60 Cust A $8,000 $3,000 $2,000 Cust B $9,000 $4,000 $1,000 Cust C $10,000 $1,000 $3,000
Table A Owes Not Due Yet 1-30 days late 31-60 Cust A $8,000 $3,000 $2,000 Cust B $9,000 $4,000 $1,000 Cust C $10,000 $1,000 $3,000 61-90 90+ $3,000 $5,000 $1,000 $4,000 Table B Historical Default Classes and Rates NDY 1-30 31-60 61-90 90+ 3% 8% 12% 23% 55% Table A lists the current customers of your company and how much they owe. Table B summarizes the historical Accounts Receivables classifications and their default percentages in 2021 of your company. You, as a Junior Accountant, are asked to perform a Aging Schedule by your supervisor. Calculate the amount you need to record in the Bad Debt Expense line based on the historical default percentages. (Do not use the $ sign. If your answer is $123,456.78, enter 123456.78)
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