A company has the following unadjusted account balances at December 31, of the current year; Accounts Receivable of $185,700 and Allowance for Doubtful Accounts of $1,600 (credit balance). The company uses the aging of accounts receivable to estimate its bad debts. The following aging schedule reflects its accounts receivable at the current year-end: 
1. Calculate the amount of the Allowance for Doubtful Accounts that should appear on the December 31, of the current year, balance sheet.
2. Prepare the adjusting journal entry to record bad debts expense for the current year.
Definitions:
DSM-5
The fifth edition of the Diagnostic and Statistical Manual of Mental Disorders, a comprehensive classification system for mental disorders used by healthcare professionals.
Obsessions
Persistent, unwanted thoughts, images, or impulses that cause distress or anxiety, often a feature of obsessive-compulsive disorder (OCD).
Compulsions
Repetitive behaviors or mental acts that an individual feels driven to perform in response to an obsession, often aimed at reducing distress or preventing feared events.
Reassurance
A communication technique used to alleviate fear or anxiety, often by providing comfort or information to dispel concerns.
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