Reference no: EM13258319
BettyDeRose, Inc. prepared the following aging schedule at December 31,2003:
Accounts Receivable %Uncollectible
not pastdue $120,000 2%
1-30 dayspast due 40,000 5%
31-60 dayspast due 25,000 8%
61-90 dayspast due 5,000 15%
over 90days past due 2,000 50%
At January1, 2003, the balance in the allowance for doubtful accounts was acredit balance of $1,200.During 2003, Betty did not record any recoveries of accountsreceivable previously written-off as uncollectible. However, during 2003, Betty recorded$1,400 of write-offs of accounts receivable determined to be uncollectible.
Based on the above information, calculate the amount of bad debt expense recorded by Betty.
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