D Question 15 At the end of 2021, Murray State Lenders had a balance in Accounts Receivable of $238,000. They expect that 3% of their Accounts Receivable will not be collected. The Allowance for Uncollectible Accounts had a debit balance of $600 before any adjustment. When Murray State records bad debt expense for the year the journal entry will be: Debit to Bad Debt Expense and Credit to Allowance for Uncollectible Accounts of $7,140. Debit to Allowance for Uncollectible Accounts and Credit to Bad Debt Expense for $7,140. Debit to Bad Debt Expense and Credit to Allowance for Uncollectible Accounts of $7,740. 4.2 pts Debit to Bad Debt Expense and Credit to Allowance for Uncollectible Accounts of $6,540.

At the end of 2021, Murray State Lenders had a balance in Accounts Receivable of $238,000. They expect that 3% of their Accounts Receivable will not be collected. The Allowance for Uncollectible Accounts had a debit balance of $600 before any adjustment. When Murray State records bad debt expense for the year the journal entry will be: Debit to Bad Debt Expense and Credit to Allowance for Uncollectible Accounts of \$7,140, Debit to Allowance for Uncollectible Accounts and Credit to Bad Debt Expense for $7.140. Debit to Bad Debt Expense and Credit to Allowance for Uncollectible Accounts of $7,740. Debit to Bad Debt Expense and Credit to Allowance for Uncollectible Accounts of $6,540