QUESTION 19 Petty cash reimbursement requires a journal entry that involves a debit to the appropriate expenses and a credit to Cash. O False QUESTION 20 4 poir A company uses the percent of sales method to determine its bad debts expense. At the end of the current year, the company's unadjusted trial balance reported the following selected amounts: Accounts receivable Allowance for uncollectible accounts Net Sales 375,000 debit 500 credit 800,000 credit All sales are made on credit. Based on past experience, the company estimates that 0.6% of net credit sales are uncollectible. What amount should be debited to Bad Debts Expense when the year-end adjusting entry is prepared? O $1,275 $1,775 $4,500 O $4,800 $5,500