Question: Violet company had credit sales of $210,000 during 2015. the balance in allowance for doubtful accounts is a $970 debit balance. journalize the bad debts expense for December 31 using each of the following methods:
a. Bad debts expense is estimated at 1.5% of credit sales.
b. the aging of accounts receivable indicates that $2,400 will be required in the Allowance account to cover Bad debt expense.