Current Attempt in Progress Oriole Co. uses the percentage-of-receivables basis to record bad debt expense and concludes that 2% of accounts receivable will become uncollectible. Accounts receivable are $391,900 at the end of the year, and the allowance for doubtful accounts has a credit balance of $2,903. (a) (b) Prepare the adjusting journal entry to record bad debt expense for the year. If the allowance for doubtful accounts had a debit balance of $827 instead of a credit balance of $2,903, prepare the adjusting journal entry for bad debt expense. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not Indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)

Oriole Co, uses the percentage-of-receivables basis to rocord bad debt expense and concludes that 2x of accounts receivable will become uncollectible. Accounts receivable are $391,900 at the end of the vear, and the allowance for doubthul accounts has a credit balance of $2,903 (a) Prepare the adjusting joumal entry to record bad debt expense for the year. (b) If the allowance for doubtful accounts had a debit balance of $827 instead of a credit balance of $2,903, prepare the adjusting journal entry for bad debt expense. (List all debit entries before credit entries. Credit occount titles are outomatically indented when amount is entered. Do not indent manuolly. If no entry is required, select "No Entry' for the occount tilles and enter O for the amounts.) No. Account Titles and Explanation Debit Credit (a) (b)