1. What is the normal journal entry for recording bad debt expense under the allowance method? a. Debit Accounts Receivable, credit Allowance for Doubtful Accounts. b. Debit Allowance for Doubtful Accounts, credit Bad Debt Expense. C. Debit Bad Debt Expense, credit Allowance for Doubtful Accounts. d. Debit Allowance for Doubtful Accounts, credit Accounts Receivable. Explain the answer you selected: 2. Under the allowance method of recognizing uncollectible accounts, the entry to write off an uncollectible account a. has no effect on net income b. decreases net income C. increases the allowance for uncollectible accounts d. has no effect on the allowance for uncollectible accounts Explain the answer you selected: Problem 1 - On December 15th Polaris Co. purchases on account $1.5 million in merchandise. The credit terms are 2/10, n/30. Prepare the journal entry(s) on December 15" to record the purchase. On December 30 Polaris Co. pays for their purchase. Record the necessary journal entry(s) on December 30th. Note: Assume Polaris Company records their purchases net. (show your work)