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  3. allowance for bad debts has a credit balance of $8

Allowance for Bad Debts has a credit balance of $800 at the end of the...

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Accounting

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Allowance for Bad Debts has a credit balance of $800 at the end of the year (before adjustment), and an "aging of receivables" indicates we have uncollectible accounts of $15,000. Which of the following entries would correctly record the adjustment to allowance 1 or Bad Debts? debit Allowance for Bad Debts, \$15,800; credit Bad Debts Expense, $15,800 debit Allowance for Bad Debts, $800; credit Bad Debts Expense, $800 debit Bad Debts Expense, $800; credit Allowance for Bad Debts, $800 debit Bad Debts Expense, \$14,200; credit Allowance for Bad Debts, \$14,200

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