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Solution

Accounts receivable % uncollectible Estimated bad debt 0-30 days 321000 1% 3210 31-60 days 87000 4% 3480 61-90 days 47000 5% 2350 91-120 days 22000 8% 1760 Over 120 days 12000 11% 1320 Total 489000 12120 Estimated bad debts 12120 Beginning allowance for doubtful accounts 3800 Bad debt expense 8320 Journal entry Bad debt expense 8320           Allowance for doubtful accounts 8320