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BCG Company reports the following financial information before adjustments on December 31, 2020. Dr. Cr...

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Accounting

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BCG Company reports the following financial information before adjustments on December 31, 2020. Dr. Cr Accounts Receivable 300,000 Allowance for Doubtful Accounts 3,000 Required Prepare the journal entry to record Bad Debt Expense assuming Alpha Company estimates bad debts at: a) 3% of accounts receivable (10 points). Explain your solution using T-accounts (5 points) b) 3% of accounts receivable but Allowance for Doubtful Accounts had a 1,000 debit balance (10 points). Explain your solution using T-accounts (5 points) Solution a) GENERAL JOURNAL DATE ACCOUNT TITLES DEBIT CREDIT Explanation (use T-accounts): b) GENERAL JOURNAL DATE ACCOUNT TITLES DEBIT CREDIT Explanation (use T-accounts)

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