At the end of the current year, using the aging of receivable method, management estimated that $28,500 of the accounts receivable balance would be uncollectible. Prior to any year-end adjustments, the Allowance for Doubtful Accounts had a debit balance of $800. What adjusting entry should the company make at the end of the current year to record its estimated bad debts expense?
Multiple Choice
Accounts Receivable 29,300
Allowance for Doubtful Accounts 29,300
Bad Debts Expense 27,700
Allowance for Doubtful Accounts 27,700
Accounts Receivable 28,500
Bad Debts Expense 800
Sales 29,300
Bad Debts Expense 29,300
Allowance for Doubtful Accounts 29,300
Bad Debts Expense 28,500
Allowance for Doubtful Accounts 28,500
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