Question 16 View Policies Current Attempt in Progress Wildhorse Causes the percent of receivables basis to record bad debt expense and concludes that 3% of accounts receivable will become collectible Accounts receivable are $382.600 at the end of the year, and the allowance for doubtful accounts has a credit balance of $2,613. a) Prepare the adjusting journal entry to record bad debt expense for the year. the the allowance for doubtful accounts had a debit balance of $903 instead of a credit balance of $2.613, prepare the adjusting journal entry for bad debt expense C accounts are automatically indented when amount is entered. Do not indent manually) No. Account Titles and Explanation Debit Credit List of Accounts Attempts: 0 of 5 used Submit Answer List of Accounts Accounts Payable Accounts Receivable Accumulated Depreciation Equipment Allowance for Doubtful Accounts Bad Debt Expense Cash Common Stock Cost of Goods Sold Dividends Income Tax Expense Income Taxes Payable Interest Receivable Interest Revenue Inventory Naley Interest Receivable Interest Revenue Inventory No Entry Notes Receivable Other Operating Expenses Other Receivables Retained Earnings Sales Discounts Sales Returns and Allowances Sales Revenue Service Charge Expense Supplies Supplies Expense