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question e6 7 recording bad debt expense estimates and write offs using the percenta 4285386


E6-7 Recording Bad Debt Expense Estimates and Write-offs Using the Percentage of Credit Sales Method LO6-2 During the current year, Adams Assembly, Inc., recorded credit sales of S820,000. Based on prior experience, it estimates a 2 percent bad debt rate on credit sales. Required: Prepare journal entries for each transaction: (lf no entry is required for a transactionievent, select “No journalentry required” in the first account field.) a. On September 29 of the current year, an account receivable for S3,000 from March of the current year was determined to be uncollectible and was written off b. The appropriate bad debt expense adjustment was recorded for the current year. view transaction list view general journal Journal Entry Worksheet Record the entry to wri tee off the uncollectible account. General Journal Debit Credit ransaction *Enter debits before credits clear entry record entry


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