Answers
Option (b) is correct
Net credit sales = $800000
Estimated uncollectible accounts = 4% * $800000 = $32000
Total esimated uncollectible accounts are $32000. But, the balance available in allowance for doubtful accounts is - $2500 or debit balance. So, bad debt expense adjustment entry needed for the amount of:
Bad debt expense adjusting entry = $32000 + $2500 = $34500
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