Prepare december journal entry to record bad debt expense

Reference no: EM132220921

Question - Wilton, AG had net sales in 2019 of €1,400,000. At December 31, 2019, before adjusting entries, the balances in selected accounts were Accounts Receivable €250,000 debit, and Allowance for Doubtful Accounts €2,400 credit. If Wilton estimates that 8% of its receivables will prove to be uncollectible, prepare the December 31, 2019, journal entry to record bad debt expense.

Reference no: EM132220921

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