Times New Roman 10 AA == ab Wrap Text v General Paste Merge & Center - % " 898 Conditional Format C22 BIU xfx 16500 A Company reports the following financial information before adjustments 2 Accounts Receivable. Allowance for Doubtful Accounts Sales (all on credit) Sales Retums and Allowances Instructions D Debits $25,000 Credits $500 $225,000 $12,500 In the space below, record the estimate of bad debt expense using the 3 different sets of circumstances PREPARE ENTRY A BELOW: Accts Rec . 25,000 Sales 225,000 Allowance For D/A 500 bela Sales Returns & Allowances 12,500 Record Bad Debt Expense assuming bad debts is estimated based on 8% of net sales 20 Account Title 31 Bad Debt Expense " Allowance for Doubtful Accounts 21 Cod 16500 16100 24 PREPARE ENTRY B BELOW: 2 Record Bad Debt Expense Assuming bad debts is estimated based upon 8% of accounts receivable ( E + Beady. Ce Formatting as Table Styles " T AH