2 points): Apply the allowance method: Yoda Enterprises is a brand new business. At the end of the first reporting period, they elect to apply the allowance method for estimating and recognizing bad debt expense. Yoda Enterprises provides you with the following information: Sales of $950,000, accounts receivable of $90,000 and a beginning balance in the allowance for doubtful accounts of $0 (before management's new estimate is calculated for this reporting period.) After management aged the receivables, they concluded that 50% of the $90,000 accounts receivable would not be collectible. Using the allowance method, prepare the correct journal entry to record bad debt expense for this reporting period. Your answer should be in this format: Dr. Account name $xxxx Cr. Account name $xxxx Failure to include Dr. and Cr. designation will result in zero points earned.

2 points): Apply the allowance method: Yoda Enterprises is a brand new business. At the end of the first reporting period, they elect to apply the allowance method for estimating and recognizing bad debt expense. Yoda Enterprises provides you with the following information: $ ales of $950,000, accounts recelvable of $90,000 and a beginning balance in the allowance for doubtful accounts of so poefore managements new estimate is calculated for this reporting period) After management aged the receivables, they concluded that 50% of the $90,000 accounts recelvable would not be collectible. Using the allowance method, prepare the correct journal entry to record bad debt expense for this reporting period. Your answer should be in this format: Dr. Account name 5x000x Cr. Account name $xx (2 points): Apply the allowance method: Yoda Enterprises is a brand new business. At the cod of the first reporting period, they elect to apply the allowance method for estimating and recognizing bad debt expense. Yoda Enterprises provides you with the following information: $ales of $950,000, accounts receivable of $90,000 and a beginning balance in the allowance for doubtful accounts of 50 (before management's new estimate is calculated for this reporting period.) After management aged the recelvables, they concluded that 50% of the $90,000 accounts recelvable would not be collectible. Using the allowance method, prepare the correct journal entry to record bad debt expense for this reporting period. Your answer should be in this format: Failure to include Dr, and Cr, designation will result in zero points earned