The company has an accounts receivable balance of $3,000,000 at the end of the year The company decides that $90,000 of those accounts receivable are uncollectible because the customers associated with those accounts had filed for bankruptcy protection during the year Using the direct write off met...

The company has an accounts receivable balance of $3,000,000 at the end of the year. The company

Question:

The company has an balance of $3,000,000 at the end of the year. The company decides that $90,000 of those are uncollectible because the customers associated with those accounts had filed for bankruptcy protection during the year. Using the direct write-off method of accounting for bad debt expense, make the journal entry necessary to record bad debt expense for the year.
Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...