Exercise 6-9 The records of Bridgeport Company at the end of the current year shows Accounts Receivable $73,500; Credit Sales $824,970, and Sales Returns and Allowances $37,540. (a) If Bridgeport uses the direct write-off method to account for uncollectible accounts and Bridgeport determines that Matisse's $903 balance is uncollectible, what will Bridgeport record as bad debt expense? Bad debt expense (b) If Allowance for Doubtful Accounts has a balance of $1,180 and Bridgeport concludes bad debts are expected to be 9% of accounts receivable, what will Bridgeport record as bad debt expense? Bad debt expense Brief Exercise 6-1 Presented here are the components in Blossom Company's income statement. Determine the missing amounts. Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Net Income $ 75,960 $ 34,700 $13,790 $112,800 $72,300 $31,050 (a) $76,890 $115,310 $46,880