Remaining Time: 2 hours, 45 minutes, 45 seconde Question Completion Status Verw Path: P QUESTION 10 Pivot Corp. has outstanding accounts receivable totaling $6.5 million as of December 31 and sales on credit during the year of $24 million. There is also a credit balance of $12,000 in the allowance for doubtful accounts. The company estimates that 6% of its outstanding receivables will be collectible. Required: a Calculate the amount of bad debt expense recognized for the year. b. Prepare the adjusting journal entry for bad debt expense. BIX 25 T --- Arial 3 (12pt) Words:0