ACC112 Q9

Sama company has the following unadjusted account balances at December 31, 2021; Total Sales of $720,000, Accounts Receivable of $205,000 and the allowance was estimated as 3.5% of the total Account Receivable. The Allowance for Doubtful Accounts had a credit balance of $2,400, before the estimate was made. Required: Prepare the adjusting journal entry to record bad debts expense for 2021. Answer in the following format [Note: This is just an example and is not related to the question] Jan 1 Dr. Cash...120 Cr. Owner capital 120 For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BIUS Paragraph Arial 10pt Av Tx * Q ...