Glencoe Supply had the following accounts receivable aging schedule at the end of a recent year. Accounts Receivable Age AmountProportion Expected to DefaultAllowance Required Current$310,5000.005$1,553 1–30 days past due47,5000.01475 31–45 days past due25,0000.133,250 46–90 days past due12,8000.202,560 91–135 days past due6,1000.251,525 Over 135 days past due4,2000.602,520 $11,883 The balance in Glencoe allowance for doubtful accounts at the beginning of the year was $46,640 (credit). During the year, accounts in the total amount of $51,232 were written off. Required: Question Content Area 1. Determine bad debt expense. $fill in the blank 685eb2f7605b021_1 16,475 Feedback Area Feedback 1. The aging method attempts to estimate the ending balance in the Allowance for Doubtful Accounts. Question Content Area 2. Prepare the journal entry to record bad debt expense. If an amount box does not require an entry, leave it blank. Bad Debt Expense 16,475 Allowance for Doubtful Accounts 16,475 (Record adjusting entry for bad debt expense estimate) Feedback Area Feedback 2. The aging method attempts to estimate the ending balance in the Allowance for Doubtful Accounts. Question Content Area 3. If Glencoe had written off $90,000 of receivables as uncollectible during the year, how much would bad debt expense reported on the income statement have changed? $fill in the blank 84fa67fd8fe0ffd_1 73,525 Feedback Area Feedback 3. The aging method attempts to estimate the ending balance in the Allowance for Doubtful Accounts.