What is the normal journal entry for recording bad debt expense under the allowance method? Debit Allowance for Doubtful Accounts, credit Accounts Receivable. Debit Accounts Receivable, credit Allowance for Doubtful Accounts. Debit Allowance for Doubtful Accounts, credit Bad Debt Expense. Debit Bad Debt Expense, credit Allowance for Doubtful Accounts. Question 56 (1.54 points) Use the following information for questions 56 and 59. Niles Co. uses periodic inventory, and has the following data related to inventory: Inventory, March 1, 200 units @ $2.10 Purchase, March 7, 700 units @ $2.20 Purchase, March 16, 140 units @ $2.25 Ending Inventory, March 31, 260 units The value assigned to ending inventory if Niles uses LIFO is $584. $552. $546. $579. Question 57 (1.54 points) Niles Co. uses periodic inventory, and has the following data related to inventory: Inventory, March 1, 200 units @ $2.10 Purchase, March 7 700 units @ $2.20 Purchase, March 16, 140 units @ $2.25 Ending Inventory, March 31, 260 units The value assigned to ending inventory if Niles uses FIFO is $1,696. $1,724. S 579. $ 552