QUESTION 6 Long Company uses the percentage of sales method for recording bad debts expense. For the year, cash sales are $500,000 and credit sales are $2,000,000. Management estimates that 1% is the sales percentage to use. What adjusting entry will Long Company make to record the bad debts expense? Bad Debts Expense.... 25,000 Allowance for Doubtful Accounts ....... 25,000 20,000 Bad Debts Expense Allowance for Doubtful Accounts........... B. 20,000 I 20,000 Bad Debts Expense Accounts Receivable 20,000 oc 25,000 Bad Debts Expense. Accounts Receivable 25,000 D. QUESTION 7 Larson Company on lul 15 sells merchandise on account to Stuart Co. for $1.000. terms 2/10./30. On lulv 20 Stuart Co. returns mer Sa 1 Anth sme all answers