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What adjusting entry will bramble company make to record

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Reference no: EM132472525

Bramble Company uses the percentage of receivables method for recording bad debt expense. The accounts receivable balance is $612000 and credit sales are $2660000. Management estimates that 4% of accounts receivable will be uncollectible.

Question 1: What adjusting entry will Bramble Company make to record bad debt expense if the Allowance for Doubtful Accounts has a $4500 credit balance before adjustment?

Point 1: 1Bad Debt Expense                                24480

Allowance for Doubtful Accounts                         24480

Point 2: 2Bad Debt Expense                               19980

Allowance for Doubtful Accounts                        19980

Point 3: 3Bad Debt Expense                              19980

Accounts Receivable                                       19980

Point 4: 4Bad Debt Expense                             24480

Accounts Receivable                                      24480

Reference no: EM132472525

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