An aging of lily company’s accounts receivable as of december 31 revealed the following. amount % uncollectible current $20,000 2% 1-30 days 50,000 4% 31-60 days 30,000 7% over 60 days 10,000 25% before any adjustment for the current year’s bad debts, lily company has a balance in its allowance for bad debts of $3,000; this $3,000 represents the remaining allowance associated with accounts receivable created in prior years. lily company uses the aging method of estimating bad debt expense. what is bad debt expense for this year?

What is BAD DEBT EXPENSE for THIS year?

4000

Explanation:

Aging    

Current          200002%400

1-30                  500004%2000

31-60         300007%2100

Over 60         1000025%2500

                            7000

Allowance bad debts   3000

Expense                    4000

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best of luck,

the divergent