Current Attempt in Progress Answer the following independent questions. (a) Swifty, Inc. had net sales...
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Accounting
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Answer the following independent questions.
(a)
Swifty, Inc. had net sales in 2020 of $1,506,100. At December 31, 2020, before adjusting entries, the balances in selected accounts were Accounts Receivable $254,000 debit, and Allowance for Doubtful Accounts $1,816 debit. Assume that 11% of accounts receivable will prove to be uncollectible. Prepare the entry to record bad debt expense. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
| Date | Account Titles and Explanation | Debit | Credit |
|---|---|---|---|
| Dec. 31, 2020 | enter an account title to record bad debt expense on December 31 | enter a debit amount | enter a credit amount |
| enter an account title to record bad debt expense on December 31 | enter a debit amount | enter a credit amount |
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