Biossom Co, uses the percentage-of-receivables basis to record bad debt expense and concludes that 2% of accounts receivable will become uncollectible. Accounts receivable are $497,000 at the end of the year, and the allowance for doubtful accounts has a credit balance of $1,700 (a) Prepare the adjusting journal entry to record bad debt expense for the year (Credit occount tities ore outomotically indented when amount is entered. Do not indent manually. Attempts: 0 of 1 used (b) If the allowance for doubtful accounts had a debit balance of 5880 instead of a cred t balance of $1700 determine the amount to be reported for bad debt expense. Bad Debts Expense