D Question 16 4.2 F At December 31, Gill Co. reported accounts receivable of $311,000. Their allowance for uncollectible accounts had a credit balance of $970 before adjusting entries were made. An analysis of accounts receivable suggests that the allowance for uncollectible accounts should be 2% of accounts receivable. The journal entry to record bad debt expense would be: Debit to Bad Debt Expense of $6,220; credit to Allowance for Uncollectible Accounts of $6,220 Debit to Allowance for Uncollectible Accounts of $5,250; Credit to Bad Debt Expense of $5,250 O Debit to Bad Debt Expense of $5,250; credit to Allowance for Uncollectible Accounts of $5,250. Debit to Allowance for Uncollectible Accounts of $6,220; Credit to Bad Debt Expense of $6,220

At December 31, Gill Co, reported accounts receivable of $311,000. Their allowance for uncollectible accounts had a credit balance of $970 before adjusting entries were made. An analysis of accounts receivable suggests that the allowance for uncollectible accounts should be 2% of accounts receivable. The journal entry to record bad debt expense would be: Debit to Bad Debt Expense of $6,220; credit to Allowance for Uncollectible Accounts of $6,220 Debit to Allowance for Uncollectible Accounts of \$5,250; Credit to Bad Debt Expense of \$5,250 Debit to Bad Debt Expense of $5,250; credit to Allowance for Uncollectible Accounts of $5,250. Debit to Allowance for Uncollectible Accounts of $6,220; Credit to Bad Debt Expense of $6,220