1-5. Prepare the adjusting entry to record the proper expanse for 20X3. Below is the 20x3 activities/transactions for Ryerson: - Sales for the year totaled $100,000. The allowance for doubtful accounts has a December 31 balance of $200. The allowance should be adjusted at year-end to 1/4percent of sales for the year. Bad Debt Expense $50 (Debit) 7 Allowance for Doubtful Accounts $50 (Credit) Bad Debt Expense $24,800 (Debit) / Allowance for Doubtful Accounts $24,800 (Credit) Allowance for Doubtful Accounts $24,800 (Debit) / Bad Debt Expense $24,800 (Credit) Allowance for Doubtful Accounts $50 (Debit) / Bad Debt Expense $50 (Credit)