Question: answer this question please Al each calendar year-end, Cabool Supply Co uses the percent of accounts receivable method to estimate bad debts. On December 31,

answer this question please Al each calendar year-end, Cabool Supply Co

answer this question please

Al each calendar year-end, Cabool Supply Co uses the percent of accounts receivable method to estimate bad debts. On December 31, 2015, it has outstanding accounts receivable of $97,500, and it estimates that 3% will be uncollectible. Prepare the adjusting entry to record bad debts expense for year 2015 under the assumption that the Allowance for Doubtful Accounts has (a) a $1,658 credit balance before the adjustment (b) a $488 debit balance before the adjustment (Omit the "S" sign in your response.) Adjusting entries (all dated December 31, 2015). Debit Cred (a) General Journal (Click to select) (Click to select) (b) (Click to select) (Click to select)

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