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Calculate the bad debt expense for zing

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Question: ZING, Inc. uses the aging method to estimate its bad debts. The information below has been collected regarding the company's outstanding customer accounts and their probability of collection:

Account Age -Probability of Non-Collection-Amount Owed
0-30 days- 0.3%- $1,089,000
31-60- days - 1.0%- 411,500
61-90- days 1-.5%- 256,600
91-120 -days -3.0%- 151,000
Over 120 days -15.0% -58,000

The balance in ZING's Allowance for Uncollectible Accounts account at year end before adjusting for a bad debt estimate is $600. Calculate the bad debt expense for ZING, Inc. for the current year.

Reference no: EM132749355

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