Under the allowance method, Bad Debt Expense is recorded A) several times during Expense the accounting period. B) for an amount that the company estimates it will not collect. C) when the loss amount is known. D) when an individual account is written off. Which of the following accounts has a normal credit balance? A) Sales Discounts B) Sales Revenue C) Cost of Goods Sold D) Sales Returns and Allowances Given the following adjusted trial balance: Net income for the year is: A) $198. B) $370. C) $596. D) $424