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On December 31, 2020, the balance in Blossom's Products Accounts Receivable was $ 381,920 and...

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On December 31, 2020, the balance in Blossom's Products Accounts Receivable was $ 381,920 and net credit sales amounted to $ 3,348,000 during 2020. An aging analysis of the accounts receivable indicated that $ 38,440 in accounts are expected to be uncollectible. Prepare the adjusting entries to record estimated bad debt expense using the percentage-of-receivables basis under each of the following independent assumptions: (a) Your answer is correct. Allowance for Doubtful Accounts has a credit balance of $ 2,852 before adjustment. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entry before credit entry.) Account Titles and Explanation Debit Credit Bad Debt Expense 35588 Allowance for Doubtful Accounts 35588 Attempts: 1 of 1 used (b) Allowance for Doubtful Accounts has a debit balance of $ 450 before adjustment. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entry before credit entry.) Account Titles and Explanation Debit Credit

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