At the end of the current year, using the aging of receivable method, management estimated that $23,250 of the accounts receivable balance would be uncollectible. Prior to any year-end adjustments, the Allowance for Doubtful Accounts had a debit balance of $625. What adjusting entry should the company make at the end of the current year to record its estimated bad debts expense?
A.
| Accounts Receivable | 23,875? | |
| Allowance for Doubtful Accounts | 23,875? |
B.
| Bad Debts Expense | 23,250? | |
| Allowance for Doubtful Accounts | 23,250? |
C.
| Bad Debts Expense | 23,875? | |
| Allowance for Doubtful Accounts | 23,875? |
D.
| Accounts Receivable | 23,250? | |
| Bad Debts Expense | 625? | |
| Sales | 23,875? |
E.
| Bad Debts Expense | 22,625? | |
| Allowance for Doubtful Accounts | 22,625? |
Answer: C
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