All sales are made on credit. Based on past experience, the company estimates 0.5% of net sales to be uncollectible. What adjusting entry should the company make at the end of the current year to record its estimated bad debts expense

Debit Bad debts expense $11,000

Credit Allowance for doubtful accounts $11,000

Explanation:

Incomplete question: A company uses the percent of receivables method to determine its bad debts expense. At the end of the current year, the company's unadjusted trial balance reported the following selected amounts:

Accounts receivable: $445,000 Debit

Allowance for Doubtful Accounts: 1,350 Debit

Net Sales: 2,200,000 Credit

Estimated bad debts = $2,200,000*0.5%

Estimated bad debts = $11,000

Account titles & Explanations            DebitCredit

Bad debts expense                               $11,000

Allowance for Doubtful accounts                         $11,000

you will have $2593.74 in 10 years if you set aside $1,000 at 10%

you will have $9321.91 in 20 years if you set aside $2000 at 8%

you will have $1469.32 in 5 years if you set aside $1000 at 8%

you will have $1296.87 in 10 years if you set aside $500 at 10%

you will have $239.66 in 15 years if you set aside $100 at 6%

you will have $4660.96 in 20 years if you set aside $1000 at 8%

answer; only identify and interpret trends in the marketplace;