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The following accounts were taken from Bullock Inc.s unadjusted trial balance at December 31, 2020. Debit Credit Net credit sales $750,000 Allowance for doubtful accounts

The following accounts were taken from Bullock Inc.s unadjusted trial balance at December 31, 2020.

Debit

Credit

Net credit sales

$750,000

Allowance for doubtful accounts

$14,000

Accounts receivable

310,000

Prepare the adjusting entry to record bad debt expense for 2020 assuming doubtful accounts are 3% of accounts receivable based on an aging of accounts.

		Credit
Net credit sales		$750,000
Allowance for doubtful accounts	$14,000
Accounts receivable	310,000

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