(Choose 1 answer)
(2367) Branz Company had credit sales during the current year which amounted to $700,000. Historically,3% of credit sales are uncollectible. If Branz uses the allowance method of recording uncollectible accounts, a proper journal entry to record bad debt expense for the year would be:
A. Dr. Accounts Receivable 21,000
Cr. Allow. for Uncollectible Accounts 21,000
B. Dr. Uncollectible Accounts Expense 21,000
Cr. Accounts Receivable 21,000
C. Dr. Bad debts Expense 21,000
Cr. Allow. for Uncollectible Accounts 21,000
D. Dr. Allow. for Uncollectible Accounts 21,000
Cr. Accounts Receivable 21,000
E. None of these
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Exit 36
