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Problem 1: Accounts Receivable is 120,000, Sales are $60,000, balance in the Allowance for Doubtful Accounts is a credit of $900, and the % of uncollectible credit sales is 5%. If a company is using the Allowance method, and the Balance Sheet method, what would be the adjusting entry needed to account for uncollectible accounts?
Group of answer choices
Option a. Credit to Bad Debt Expense and debit to Allowance for Doubtful Accounts for $6,000
Option b. Debit to Bad Debt Expense and credit to Allowance for Doubtful Accounts for $2,100
Option c. Debit to Bad Debt Expense and credit to Allowance for Doubtful Accounts for $5,100
Option d. Debit to Bad Debt Expense and credit to Allowance for Doubtful Accounts for $6,000
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