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Prepare the adjusting entry to record bad debts expense

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Question - At December 31, Folgeys Coffee Company reports the following results for its calendar year.

Cash sales $907,000

Credit sales 307,000

Its year-end unadjusted trial balance includes the following items.

Accounts receivable $132,000 debit

Allowance for doubtful accounts 5,700 debit

Required - Prepare the adjusting entry to record bad debts expense assuming uncollectibles are estimated to be (a) 6% of credit sales, (b) 4% of total sales and (c) 9% of year-end accounts receivable.

Reference no: EM133041056

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