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The Rock has credit sales of $425,000 during 2013 and estimates at the end of 2013 that 1.5% of these credit sales will eventually default.

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The Rock has credit sales of $425,000 during 2013 and estimates at the end of 2013 that 1.5% of these credit sales will eventually default. Also, during 2013 a customer defaults on a $1, 200 balance related to goods purchased in 2012. Prepare the journal entry to record the defaulted balance. Prepare the adjusting entry to record the bad debt expense for 2013

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