QUESTION $30$

BMCC Corp earned net credit sales of $$311,000$ in the full year $2024.$ Industry experience suggests that bad debts will amount to $2\%$ on Account Receivables past due from $0$ to $30$ days and $5\%$ on Account Receivables past due from $31$ to $60$ days. Accounts Receivables amount to $$50,000$ on past due from $0$ to $30$ days and $$20,000$ on past due from $31$ to $60$ days. The company uses the allowance method to account for uncollectibles. What would be the journal entry to record Bad Debt Expense under the Aging$-$ofreceivable Method, assuming that the Allowance for Bad Debt Account has a Beginning credit balance of $$500?q,$ a$.$ Dr$.$ Allowance for Bad Debt $$2,000$; Cr$.$ Bad Debt Expense $$2,000$

b$.$ Dr$.$ Bad Debt Expense $$2,000$; Cr$.$ Allowance for Bad Debt $$2,000$

c$.$ Dr$.$ Allowance for Bad Debt $$1,500$; Cr$.$ Bad Debt Expense $$1500$

d$.$ Dr$.$ Bad Debt Expense $$1,500$; Cr$.$ Allowance for Bad Debt $$1,500$

e$.$ None of the above.