prepare the adjusting entry to record bad debt expense at year end calculate the carrying account receivable on September 30, 2021.

Ivanhoe Company uses the percentage of sales method to record bad debt expense. It estimates that 2% of net credit sales (all made on account) will become uncollectible. Ivanhoe Company reported the following information in its general ledger for the year ended September 30, 2021: Sales Debit Credit 957,000 Accounts Receivable Debit Credit 248.000 Allowance for Doubtful Accounts Debit Credit 2.500