Homework Answers
Total estimated uncollectibles=69000*2%+12000*5%+9900*28%+7000*53%
=1380+600+2772+3710=8462
Assumption only the balance in the year 2017 is taken for calculating the % of uncollectibles
Already the company has a bad debt allowance of $1951cr so the difference 8462-1951=6511 is the actual bad debt expense
Journal entry
Bad debts expense a/c Dr. 6511
To Allowance for bad debts Cr 6511
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