Using the allowance method, which is the correct adjusting journal entry to record bad debt expense?
A. Debit Bad Debt Expense and credit Sales Revenue.
B. Debit Bad Debt Expense and credit Allowance for Doubtful Accounts.
C. Debit Bad Debt Expense and credit Accounts Receivable.
D. Debit Allowance for Bad Debt Expense and credit Bad Debt Expense.
Answer: B
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Indicate whether this statement is true or false.