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Grey Corporation has $ 1 0 0 , 0 0 0 of accounts receivable on December 3 1 . The unadjusted balance of its Allowance

Grey Corporation has $

100, 000

of accounts receivable on December

31 .

The unadjusted balance of its Allowance for Doubtful Accounts is a debit of $

1, 000 .

Experience suggests

5

percent of its receivables will be uncollectible. The amount that should be debited to Bad Debt Expense and credited to Allowance for Doubtful in the year

-

end adjusting entry is:

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