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b. Prepare the entry to record the provision for doubtful accounts (bad debts expense) for 2020 . c. What effect did these entries have on Steelcase's income for that year? E6-42. Analyzing and Reporting Receivable Transactions and Uncollectible Accounts (Using Percentage-of-Sales Method) At the beginning of the year, Penman Company had the following (normal) account balances in its financial records: I f umuwmy aaditional transactions occurred during the jeations on credit sales were $575,000. The Feb. 17 Wrote off Nissim's account, $1,800. May 28 Wrote off White's account, $1,200. Dec. 15 Wrote off Ohlson's account, $450. Dec. 31 Recorded the provision for uncollectible accounts at 0.8% of credit sales for the year. (Hint: The allowance account is increased by 0.8% of credit sales regardless of any Compute and show how accounts receivable and the allowance for uncollectible accounts are re- -43. Estimating Bad Debts Expense and Reporting of Receivo