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Business, 28.02.2021 17:00 kirstenb278

Estimating Uncollectible Accounts and Reporting Accounts Receivable LaFond Company analyzes its accounts receivable at December 31, and arrives at the age categories below along with the percentages that are estimated as uncollectible. Age Group Accounts Receivable Estimated Loss % 0-30 days past due$ 90,0001% 31-60 days past due20,0002 61-120 days past due11,0005 121-1806,00010 Over 180 days past due4,00025 Total accounts receivable$ 131,000 The balance of the allowance for uncollectible accounts is $520 on December 31, before any adjustments. (a) What amount of bad debts expense will LaFond report in its income statement for the year

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