Brief Exercise 215 The ledger of the Ramirez Company at the end of the current year shows Accounts Receivable of $200,000.

If Allowance for Doubtful Accounts has a credit balance of $3,000 in the trial balance and bad debts are expected to be 8% of accounts receivable, journalize the adjusting entry for end of the period. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

If Allowance for Doubtful Accounts has a debit balance of $3,000 in the trial balance and bad debts are expected to be 8% of accounts receivable, journalize the adjusting entry for end of the period. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)