Question: please address part b. Current Attempt in Progress Windsor, Inc. uses the percentage-of-receivables basis to record bad debt expense and concludes that 2% of accounts


please address part b.
Current Attempt in Progress Windsor, Inc. uses the percentage-of-receivables basis to record bad debt expense and concludes that 2% of accounts receivable will become uncollectible. Accounts receivable are $519,000 at the end of the year, and the allowance for doubtful accounts has a credit balance of $3,000. (a) Your answer is correct. 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. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) If the allowance for doubtful accounts had a debit balance of $950 instead of a credit balance of $3,000, prepare the adjusting journal entry for bad debt expense. (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 0 for the amounts.) eTextbook and Media List of Accounts Attempts: 0 of 3 used
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