Homework Answers
answer: $4,400
bad debt expense = 400,000 * 1% = $4000
Given that allowance for doubtful accounts has a debit balance of $400
So the estimated bad debts = 4000 + 400 = $4400
Journal entry:-
| bad debt expense | $4400 | |
| allowance for doubtful accounts | $4400 |
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