Using the allowance method, the uncollectible accounts for the year is estimated to be $50,000. If the balance for the Allowance for Doubtful Accounts is a $9,000 credit before adjustment, what is the amount of bad debt expense for the period? A) $50,000 B) $59,000 C) $41,000 D) $9,000 Alt Corp. issues 5,000 shares of $10 par value common stock at si4 per share. When the transaction is recorded, credits are made to: A) Common Stock $50,000 and Retained Earnings $20,000. B) Common Stock $70,000. C) Common stock $50,000 and Paid-in Capital in Excess of Par Value $20,000. D) Common Stock $50,000 and Paid-in Capital in Excess of Stated Value $20,000. The expense recognition principle relates to credit losses by stating that bad debt expense should be recorded A) for an exact amount. B) in the same period as allowed for tax purposes. C) in the period of the sale. D) in the period of the loss