urrent Attempt in Progress Wildhorse Co. uses the percentage-of-receivables basis to record bad debt expense and concludes that 2% of an will become uncollectible. Accounts receivable are $542,000 at the end of the year, and the allowance for doub credit balance of $3,720. Prepare the adjusting journal entry to record bad debt expense for the year. (Credit account titles are automa indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit e Textbook and Media List of Accounts