Shape Math Select Draw with Touch Convert Drawing Tools Input Mode G H K A C D E F Exercise 6 - Your Co. uses the allowance method. Your Co. had sales of $160000, an A/R balance of $28800, and a cr. balance of $576 in the allowance account. Record the adjusting entry if 7% of A/R are uncollectible. Debit Credit Date Dec General Journal Account/Explanation PR 31 Bad Debt Expense Allowance for Doubtful Accounts (7% sales uncollectible) x x Credit What entry is required if M Co. goes bankrupt owing Your Co. $288? General Journal Date Account/Explanation PR Debit Apr 2 Allowance for Doubtful Accounts 288 Accounts Receivable Incollected 288