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Metlock Comparry has accounts receivable of $125,600 at March 31 . An analysis of the accounts shows the followine Credit terms are 2/10, n30. At
Metlock Comparry has accounts receivable of $125,600 at March 31 . An analysis of the accounts shows the followine Credit terms are 2/10, n30. At March 31, Allowance for Doubtful Accoums has a credit balance of \$1,000 grior to atfiustment, The compary uses the percentage of recevables basis for estimating uncollectible accounts. Metiock estimates that EN of accoounts Prepare the adjusting entry at March 31 to record bad debt expense, assuming that the 8% estimate is used. (Credit account titles are outomatically indented when the amount is entered. Do not indent manually, List debit entry before oredit entry. If no entry is required, select "No Entry" for the occount titles and enter Ofor the amounts
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