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What amount of bad debt expense did IVAN record

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Question - IVAN Company had the following balances on December 31, 2021, before any adjustment: Accounts Receivable = $100,000; Allowance for Uncollectible Accounts = $4,100 (credit). IVAN estimates uncollectible accounts based on an aging of accounts receivable as shown below:

Age Group (days past due)

Accounts Receivable

Estimated Percent Uncollectible

Not yet due

$50,000

4%

0-30

$20,000

8%

31-60

$18,000

10%

More than 60

$12,000

40%

Required - What amount of bad debt expense did IVAN record in its December 31, 2021, adjustment to the allowance account?

Reference no: EM133117884

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