On June 16, 2024, Monroe, Inc. wrote off the $26,000 receivable from customer James. On October 14, 2024, Monroe unexpectedly receives $26,000 cash from James. How should Monroe record the $26,000 payment from James? The company uses the allowance method. 26,000 26,000 26,000 26,000 26,000 26,000 26,000 26,000 O A. Bad Debts Expense Accounts Receivable-James Cash Accounts Receivable - James B. Accounts Receivable James Bad Debts Expense Cash Accounts Receivable - James O C. Allowance for Bad Debts Accounts Receivable-James Cash Accounts Receivable - James D. Accounts Receivable James Allowance for Bad Debts Cash Accounts Receivable - James 26,000 26,000 26,000 26,000 26,000 26,000 26,000 26,000 tartoont vour answer Thomas Company uses the allowance method and estimates bad debts using the percent-of-sales method. The company's management estimates that $18,000 of net credit sales will be uncollectible for the year 2025. What is the journal entry to record the estimated bad debts expense? 18,000 18,000 18,000 18,000 O A. Bad Debts Expense Allowance for Bad Debts OB. Accounts Receivable Allowance for Bad Debts OC. Allowance for Bad Debts Accounts Receivable OD. Allowance for Bad Debts Bad Debts Expense 18,000 18,000 18,000 18,000 The percent-of-receivables and aging-of-receivables method is based on the balance of O A. Cash B. Accounts Receivables C. Sales Revenue D. Accounts Payable