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Current Attempt in Progress Your answer is partially correct Concord Corporation uses the percentage-of-receivable basis to record bad debt expense and concludes that of accounts receivable will become uncollectible Accounts receivable $421.300 at the end of the year, and the allowance for doubtful accounts as a credit balance of 52.921 be Prepare the adjusting journal entry to record bad debt expense for the year If the lowance for doubtful accounts had a debit balance of 70 instead of credit balance of $2.921. prepare the dating journal entry for bad debt expenst. Credit account title are automatically indented when amount is entered. Do not indent manually) No. Account Tities and Explanation Debit Credit 00 Albert 165.00