Using the information in M8-7 and M8-8, prepare the journal entry to record the end-of-period adjustment for

Question:

Using the information in M8-7 and M8-8, prepare the journal entry to record the end-of-period adjustment for bad debts under the (a) percentage of credit sales method, and (b) aging of method. Which of these methods is required by GAAP?
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...