McConnell's Bakeries had the following balances on December 31, 2021, before any adjustment: Accounts Receivable = $100,000; Allowance for Uncollectible Accounts = $4,100 (credit). McConnell's estimates uncollectible accounts based on an aging of accounts receivable as shown below:
Age Group
(days past due) Accounts
not yet due 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 %
What amount of bad debt expense did McConnell's record in its December 31, 2021, adjustment to the allowance account?
A) $10,200.
B) $12,800.
C) $15,300.
D) $6,100.
Answer: $6,100.
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Accounting
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