Alastair uses the allowance method of accounting for bad and doubtful debts. When he received notice that a debtor, who owed him $3 000, was in liquidation he decided to write off the debt as bad. What is the general journal entry to record the write oft? Select one: a. DR Bad debts expense $3 000; CR Accounts receivable $3 000 b. DR Allowance for doubtful debts $3 000; CR Accounts receivable $3 000 C. DR Bad debts expense $3 000; CR Allowance for doubtful debts $3 000 d. DR Allowance for doubtful debts $3 000; CR Bad debts expense $3 000 The allowance for doubtful debts account had a balance of $2200 before bad debts of $1400 were written off and the allowance was adjusted to 10% of the accounts receivable balance of $20 000. The new amount of allowance for doubtful debts that is deducted from accounts receivable in the balance sheet is: Select one: a. $2200 b. $2000. c. $1400 d. $1200. Ryder Ltd recorded sales of $580 000 during the year with $430 000 being on credit. Bad debts in the past have averaged 2% of credit sales. Using the income statement method, the amount to provide for estimated bad debt expense for the year is: Select one: a. $8 600 b. $9 600 c. $2 600 d. nil. A business performing a physical count of inventory on hand is known as a: Select one: a. stockvalue. b. stocklist. c. count. d. stocktake