If a customer gives the company a promisory note receivable the customer would be: The payee. The maker. The drawer. The drawee. A company has a $100 imprest petty cash account. At September 15, the fund has $20 in cash, $50 in receipts for business supplies and $30 in receipts for travel. The journal entry to replenish the fund is: Debit supplies $50 and travel $30 and credit cash $80. Debit supplies $50 and travel $30 and credit petty cash $80. Debit petty cash $20 supplies $50 and travel $30 and credit cash $100. Debit cash $20 supplies $50 and travel $30 and credit petty cash $100. The general ledger shows the following balances: Accounts Receivable $50,000. Allow, for Doubtful Accounts $2,000 (credit balance) and Sales $500,000. If the determination of bad debts was based on 1% of credit sales, the bad debt expense for the year would be: $5,000. $4, 980. $4, 500. $4,000. If the determination was based on 10% of accounts receivable, the bad debt expense for the year would be: $5,000. $4, 800. $4, 500. $3,000. Whichever method is used in questions 64 and 65 to estimate bad debts, the journal entry would be: Debit Bad Debts and credit Allowance for Doubtful Accounts. Debit Allowance for Doubtful Accounts/credit Bad Debts. Debit Allowance for Doubtful Accounts/credit Accounts Receivable. Debit Sales and credit Allowance for Doubtful Accounts