Blue, Inc. had net sales in 2025 of $1,447,100. At December 31, 2025, before adjusting entries, the balances in selected accounts were Accounts Receivable $351,700 debit, and Allowance for Doubtful Accounts $2,660 credit. If Blue estimates that 7% of its receivables will prove to be uncollectible. Prepare the December 31, 2025, journal entry to record bad debt expense. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List debit entry before credit entry.) Date Dec. 31, 2025 Account Titles and Explanation Bad Debt Expense Allowance for Doubtful Accounts Debit 27279 Credit 27279

Blue, Inc. had net sales in 2025 of $1,447,100. At December 31, 2025, before adjusting entries, the balances in selected accounts were Accounts Receivable $351,700 debit, and Allowance for Doubtful Accounts $2,660 credit. If Blue estimates that 7% of its receivables will prove to be uncollectible. Prepare the December 31, 2025, journal entry to record bad debt expense. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List debit entry before credit entry.) Date Dec. 31, 2025 Account Titles and Explanation Bad Debt Expense Allowance for Doubtful Accounts Debit 27279 Credit 27279

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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