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Give the entry for bad debt expense for the current year

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Reference no: EM132601977

The trial balance before adjustment of Kingbird, Inc. shows the following balances:

Accounts receivable                  $ 104,300

Allowance for doubtful accounts       1,955

Sales revenue (all on credit)         $675,000

Sales returns and allowances           31,700

Question 1: Give the entry for bad debt expense for the current year assuming the allowance should be 3% of gross accounts receivable. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Reference no: EM132601977

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