At the end of October, Fanny Companys management estimates the uncollectible accounts expense to be 1 percent

Question:

At the end of October, Fanny Company’s management estimates the uncollectible accounts expense to be 1 percent of net sales of $750,000. Prepare a journal entry to record the uncollectible accounts expense, assuming Allowance for Uncollectible Accounts has a debit balance of $3,500.