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The following selected amounts are reported on the year-end unadjusted trial balance report for a company that uses the percent of sales method to determine its bad debts expense. Accounts receivable $435,000 Debit Allowance for Doubtful Accounts8 Net Sales 1,250 Debit 2,100,000 Credit All sales are made on credit. Based on past experience, the company estimates 1% of credit sales to be uncollectible. What adjusting entry should the company make at the end of the current year to record its estimated bad debts expense? ODebit Bad Debts Expense $19,750; credit Alowance for Doubtful Accounts $19,75o. ODebit Bad Debts Expense $15,.225; credit Aliowance for Doubtful Accounts $15,225 O Debit Bad Dobts Expense $22,250, crecit Alowance for Doutbtful Accounts $22 250 ODobit Bad Dobts Expense $7,350, credit Allowance for Doubtflul Accounts $7.350 O Debit Bad Debts Expense $21,00, credit Allowance for Doubtful Accounts $21,000 QUESTION 22 4 points Save Answer The accounts receivable turnover s calculated by 0 Dividing net sales by average accounts receivable. O Dividing net sales by average accounts receivable and muttiplying by 365 O Dividing average aocounts receivable by net sales Dividing average accounts receivable by net sales and mutipying by 3e5. O Dividing net income by average accounts receivable

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