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Prepare the adjusting entry to record bad debt expense at year end using the percentage of receivables approach. (Credit account titles are automatically indented when
Prepare the adjusting entry to record bad debt expense at year end using the percentage of receivables approach. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Wildhorse Company estimates that 2.5% of accounts receivable will become uncollectible. Wildhorse Company reported the following information in its general ledger for the year ended September 30, 2021: Date Account Titles and Explanation Debit Credit Sales Sept. 30 Debit Credit 781,200 Accounts Receivable Debit Credit e Textbook and Media 275,000 Allowance for Doubtful Accounts Debit Credit Calculate the carrying amount of accounts receivable on September 30, 2021. 6,575 Carrying amount $
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