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Gleeson Company's Accounts Receivable Account has a debit balance of $5,400,000, and the Allowance for Doubtful Accounts has a debit balance of $12,000 at the
Gleeson Company's Accounts Receivable Account has a debit balance of $5,400,000, and the Allowance for Doubtful Accounts has a debit balance of $12,000 at the end of the year before adjustment. An analysis of their customers' accounts estimates that 2% of year end account receivable will be uncollectible The adjusting journal entry for doubtful accounts will include: Select one: O A. Credit Allowance for Doubtful Accounts, $96,000 O B. Debit Bad Debts Expense $120,000 C. Debit Bad Debts Expense $978,000 O D. Credit Allowance for Doubtful Accounts, $108,000
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