Current Attempt in Progress

Flint Corporation uses the percentage$-$of$-$receivables basis to record bad debt expense.

Accounts receivable $($ending balance$)$

$$463,000($debit$)$

Allowance for doubtful accounts $($unadjusted$)$

$4,200(debit)$

The company estimates that $3\%$ of accounts receivable will become uncollectible.

$($a$)$

Prepare the adjusting journal entry to record bad debt expense for the year. $($Credit account titles are automatically indented when amount is entered. Do not indent manually.$)$

Account Titles and Explanation

Debit

Credit