Kenny Company uses the percentage-of-receivables method for recording bad debt expense. The Accounts Receivable balance is $260.000 and management estimates that 5% of accounts receivable will be uncollectible. What adjusting entry will Kenny Company make if the Allowance for Doubtful Accounts has a credit balance of $2.600 before adjustment? Bad Debt Expense $15.600 Allowance for Doubtful Accounts $15.600 Bad Debt Expense $5.200 Allowance for Doubtful Accounts $5.200 Bad Debt Expense $10,400 Allowance for Doubtful Accounts $10.400 Bad Debt Expense 57.800 Allowance for Doubtful Accounts $7.800 Kenny Company uses the percentage-of-receivables method for recording bad debt expense. The Accounts Receivable balance is $260.000 and management estimates that 5% of accounts receivable will be uncollectible. What adjusting entry will Kenny Company make if the Allowance for Doubtful Accounts has a credit balance of $2.600 before adjustment? Bad Debt Expense $15.600 Allowance for Doubtful Accounts $15.000 Bad Debt Expense $5.200 Allowance for Doubtful Accounts $5.200 Bad Debt Expense $10,400 Allowance for Doubtful Accounts $10.400 Bad Debt Expense $7.800 Allowance for Doubtful Accounts $7.800 Young Company lends Dobson Industries $44,000 on August 1, 2020, accepting a 9-month, 9% interest note. If interest is accrued at its December 31, 2020. fiscal year-end, what entry must Young make to record the collection of the note and interest on April 30th, 2021? (Hint: You are not asked to prepare the August 1st and/or Dec 31st journal entries but you need to think about those fiest.) Cash 46.970 Notes Receivable 44.000 Interest Receivable 1.650 Interest Revenue 1.320 Notes Receivable 44.000 Interest Revenue 2.970 Cash 46.970 Cash 46.970 Notes Receivable 44,000 Interest Revenue 2.970 Cash 46,970 Notes Receivable 46,970