Question: Part A: Best & Less Company started first year operations on January 1, 2018. All transactions were on credit. At the year end. December 31,

Part A: Best & Less Company started first year operations on January 1, 2018. All transactions were on credit. At the year end. December 31, 2018, the company has accounts receivable balance of $200,000 and 2% of the outstanding balance was estimated as uncollectible. Management adopted allowance for doubtful account method for bad debt. Required: Journalize this transaction (without explanation) to record the bad debt expense at the year-end. (2 marks)

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