Remaining Time: 39 minutes, 36 seconds. Question Completion Status: 10 20 30 50 60 70 L 90 TO0115 120 130 140 150 16 17 18 19 20 QUESTION 16 A company has $104,000 in outstanding accounts receivable and it uses the allowance method to account for uncollectible accounts. Experience suggests that 5% of outstanding receivables are uncollectible. The current balance (before adjustments) in the allowance for doubtful accounts is a(n) $940 credit. The journal entry to record the adjustment to the allowance account includes a debit to Bad Debts Expense for $5247 $4260 $6140 $5200 $5153 QUESTION 17 On February 1, a customer's account balance of $4000 was deemed to be uncollectible. What entry should be recorded on February 1 to record the write-off assuming the company uses the allowance method? Debit Bad Debts Expense $4000; credit Allowance for Doubtful Accounts $4000 O Debit Allowance for Doubtful Accounts $4000; credit Bad Debts Expense $4000. O Debit Accounts Receivable $4000; credit Allowance for Doubtful Accounts $4000. Debit Allowance for Doubtful Accounts $4000; credit Accounts Receivable $4000 Debit Bad Debts Expense 54000, credit Accounts Receivable $4000. QUESTION 18