Swifty Corporation uses the percentage$-$of$-$receivables basis to record bad debt expense and concludes that $1\%$ of accounts receivable will become uncollectible. Accounts receivable are $$613,000$ at the end of the year, and the allowance for doubtful accounts has a credit balance of $$3,580.$

$($a$)$

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. If no entry is required, select $"$No Entry" for the account titles and enter O for the amounts.$)$

Account Titles and Explanation

Debit

Credit

Bad Debt Expense

Allowance for Doubtful Accounts

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List of Accounts

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