vil. Ga ry's Dairy uses the aging approach to estimate bad debt expense. The balance of each account receivable is aged on the basis of three time periods as follows: (1) not yet due, $16,000, (2) up to 120 days past due, $5,500, and (3) more than 120 days past due, $2,500. Experience has shown that for each age group, the average loss rate on the amount of the receivables at year-end due to uncollectability is (1) 2 percent, (2) 10 percent, and (3) 50 percent, respectively. At December 31, 2011 (end of the current year), the Allowance for Doubtful Accounts balance is $90 (credit) before the end-of-period adjusting entry is made. Required: What amount should adjusting journal entry. be recorded as Bad Debt Expense for the current year? Prepare the