Sunland Co. uses the percentage-of-receivables basis to record bad debt expense and concludes that 2% of accounts receivable will become uncollectible. Accounts receivable are $620,000 at the end of the year, and the allowance for doubtful accounts has a credit balance of $2,020. (a) Your answer is partially correct. Prepare the adjusting journal entry to record bad debt expense for the year. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Bad Debt Expense Allowance for Doubtful Accounts Debit Credit

Sunland Co, uses the percentage-of-receivables basis to record bad debt expense and concludes that 2% of accounts receivable will become uncollectible. Accounts receivable are $620,000 at the end of the year, and the allowance for doubtful accounts has a credit balarice of $2.020 (a) Your answer is partially correct Prepare the adjusting journal entry to record bad debt expense for the year, (Credit occount titles are automatically indented when amount is entered. Do not indent manualiy)