CALCULATOR FULL SCREEN PRINTER VERSION RACK Brief Exercise 8-6 Kingston Co. uses the percentage-of-receivables basis to record bad debt expense. It estimates that 1% of accounts receivable will become uncollectible, Account receivable are $420,000 at the end of the year, and the allowance for doubtful accounts has a credit balance of $1,500. rent amount is entered. Do Prepare the adjusting Journal entry to record bad debt expense for the year. (Credit account titles are automatically indented indent manually.) Account Titles and Explanation Debit Credit SHOW LIST OF ACCOUNTS Study LINK TO TEXE VIDEO TUTORIAL If the allowance for doubtful accounts had a debit balance of $800 instead of a credit balance of $1,500, determine the amount to be reported for bad debt expense Bad Debt Expense Click if you would like to Show Work for this question: Open Show Work