A partially completed aging of receivables schedule for Torme Designs is shown below.
(a) Determine the amount estimated to be uncollectible by completing the aging of receivables schedule. Round calculations to the nearest dollar. 
(b) If the Allowance for Doubtful Accounts has a credit balance of $1,135, record the adjusting entry for
the bad debt expense for the year.
Definitions:
Risk of Loss
The potential that an asset or investment will decrease in value or become worthless, also refers to the responsibility for damage or loss of goods in commerce.
Conformed
The action of making one thing compatible with another, often referring to the modification of documents to match certain standards or requirements.
Common Law
A body of law based on judicial decisions and precedents, rather than statutes, applicable in jurisdictions that follow the English legal tradition.
Technical Title
The formal ownership of property, often documented and recognized by law, regardless of the actual use or possession.
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