CH$8$: Q$1$

Assume Simple Company had credit sales of $$250,000$ and cost of goods sold of $$150,000$ for the period. Simple uses the percentage of credit sales method and estimates that $1$ percent of credit sales would result in uncollectible accounts. Before the end$-$of$-$period adjustment is made, the Allowance for Doubtful Accounts has a credit balance of $$250.$

What amount of Bad Debt Expense would the company record as an end$-$of$-$period adjustment?

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