Bad debt/allowance for doubtful accounts. Smith Co trial balance after the journal entry recording write-offs of bad debts but bad debt expense for the year included the following: 50% of the receivables are older than 30 days. No entries have been made all year to record any bad debt expense. Give journal entries to record bad debt expense under each of the following assumptions: That bad debt expense is 1.0% of sales. The allowance for doubtful accounts should be equal to the sum of 4% older than 30 days and 1% of all other receivables