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Manning Company uses the Single Estimated % of Total A/R method to estimate the amount of uncollectible accounts receivable. The balance in the Accounts Receivable

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Manning Company uses the Single Estimated % of Total A/R method to estimate the amount of uncollectible accounts receivable. The balance in the Accounts Receivable account in the General Ledger is $200,000, and credit sales for the accounting period were $1,000,000. Management estimates that 5% of Accounts Receivable will be uncollectible. What adjusting entry will Manning Company make if the Allowance for Uncollectible Accounts has a debit balance of $3,000 before adjustment? Debit Credit A. Bad Debt Expense 13,000 Allowance for Uncollectible Accounts 13,000 7.000 B. Allowance for Uncollectible Accounts Bad Debt Expense 7,000 7.000 C. Bad Debt Expense Allowance for Uncollectible Accounts 7.000 D. Allowance for Uncollectible Accounts 10,000 10,000 Bad Debt Expense Answer A Answer B O Answer O Answer D None of the answers are correct

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