Performance Bike Co. has determined that the proper balance for the Allowance for Doubtful Accounts at December 31 is $32,094. Assume that the allowance for doubtful accounts for Performance Bike Co. had a debit balance of $5,775 as of December 31. Journalize the adjusting entry for uncollectible accounts as of December 31. Dec. 31 Bad Debt Expense

The journal entry is as follows:

On December 31,

Bad debt expense A/c Dr. $37,869

            To Allowance for doubtful accounts    $37,869

(To record the uncollectible accounts as of December 31)

Working notes:

Allowance for doubtful accounts:

= Allowance for Doubtful Accounts at December 31 + Debit balance of allowance for doubtful accounts as of December 31

= $32,094 + $5,775

= $37,869

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