Graham Corp. has the following normal account balances on December 31, 20X1, before any adjustment for bad debts: Accounts Receivable, $900,000 Allowance for Uncollectible Accounts, $25,000 (credit balance) Bad Debt Expense, $0 On December 31, Graham estimates uncollectible accounts to be 3 % of its total accounts receivables balance. Required: Prepare the year-end journal entry to record bad debts expense for the year Date Account Name Debit Credit Dec 31 Bad Debts Expense Allowance for Uncollectible Accounts Accounts Receivable Sales Revenue Grahem Corp has the following nomel account beishces on December 31, 20X1, before any sdjustment for bad debts: Accounts Receivable. $900,000 Allowance for Uncollectible Accounts. $25,000 icredit balsnce Bad Debt Expense, $0 On December 31, Graham estimetes uncollecsble sccounts to be 3% of its total accounts receivables baience Required Prepare the year-end joumal entry to record bad debts expense for the year Dete Account Name Debit Credit Dec 31 70.000 62,000 A 56,500 45,000 6.500 2,000 20,000 31.500 27.000 page Graham Corp. has the following normal account balances on December 31, 20X1, before any adjustment for bed debts: Accounts Receiveble, $900,000 Allowence for Uncollectible Accounts, $25,000 (credit balance) Bad Debt Expense, $0 On December 31, Graham estimates uncollectible accounts to be 3 % of its total accounts receivables balence. Required: Prepare the year-end journal entry to record bad debts expense for the year. Account Name Debit Credit Date Dec 31 Bad Debts Expense Allowance for Uncollectible Accounts Accounts Receivable Sales Revenue Graham Corp. has the following normel account balances on December 31, 20X1, before any adjustment for bad debts Accounts Receiveble, $900,000 Allowance for Uncollectible Accounts, $25,000 icredit balance Bad Debt Expense, $0 On December 31, Grahem estimates uncollectible accounts to be 3% of its total eccounts receivables balance Required Prepere the year-end journal entry to record bad debts expense for the year Dete Account Neme Debit Credit Dec 31 70,000 62.000 56,500 45.000 6,500 2,000 20,000 31,500 27,000 pege