Business
Business, 27.03.2020 02:56, dontcareanyonemo

The unadjusted trial balance at year-end for a company that uses the percent of receivables method to determine its bad debts expense, reports the following selected amounts:Accounts receivable $ 437,000 DebitAllowance for Doubtful Accounts 1,270 DebitNet Sales 2,120,000 CreditAll sales are made on credit. Based on past experience, the company estimates 2.5% of ending account receivable to be uncollectible. What adjusting entry should the company make at the end of the current year to record its estimated bad debts expense?

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