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Write the necessary adjusting entry

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Problem - Davenport Docking estimates bad debt expense on a monthlyr basis rather than waiting until year-end. The company uses the allowance and aging of accounts receivable method. Based on recent industry estimates, Davenport Docking estimates that the allowance account should be 1.75% of accounts receivable. The ending AR balance is $530,000. At the end of the month (prior to this journal entry) there is a CREDIT balance of $1,250 in the Allowance for Doubtful Accounts account. Write the necessary adjusting entry.

Reference no: EM132932187

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