Here is information for Zeus Ltd. for the 2012 calendar year: Total credit sale

Here is information for Zeus Ltd. for the 2012 calendar year: Total credit sales $6600000 Accounts receivable at December 31 2500000 Accounts receivable written off during year 96000 Accounts receivable later recovered (after write-off but before year end) 16000 At the end of the year uncollectible accounts were estimated to total $104000 based on an aging schedule. Instructions What amount of bad debts expense will Zeus record if Allowance for Doubtful Accounts has an opening credit balance of $40000 on
January 1? Assume the same facts as in (a) except that there is a $20000 opening credit balance in Allowance for Doubtful Accounts. What
amount of bad debts expense will Zeus record? What are the advantages of using the allowance method of reporting bad debts expense?