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Oriole Company uses the percentage of sales method for recording bad debts expense. For the...

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Accounting

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Oriole Company uses the percentage of sales method for recording bad debts expense. For the year, cash sales are $603000 and credit sales are $2730000. Management estimates that 4% is the sales percentage to use. What adjusting entry will Oriole Company make to record the bad debts expense? O Bad Debt Expense 24120 Accounts Receivable 24120 OBad Debt Expense 24120 Allowance for Doubtful Accounts 24120 O Bad Debt Expense 109200 Allowance for Doubtful 109200 Accounts OBad Debt Expense 109200 Accounts Receivable 109200

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