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Petra Supply Ltd. At December 31, 2009, Petra Supply Ltd. had the following account balances: Accounts Receivable $50,000 Dr Allowance for Doubtful Accounts 4,570 Dr

Petra Supply Ltd. At December 31, 2009, Petra Supply Ltd. had the following account balances: Accounts Receivable $50,000 Dr Allowance for Doubtful Accounts 4,570 Dr PART A Petra estimates that $7,000 of its accounts receivable will become uncollectible. 1) Prepare the journal entries required on December 31, 2009. Bad debt expense Allowance for bad debt 2430 x 2430 X

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