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Al-Amana Corp. has outstanding accounts receivable totaling 300,000 as of December 31, 2018. There is...

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Accounting

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Al-Amana Corp. has outstanding accounts receivable totaling 300,000 as of December 31, 2018. There is also a debit balance of 6,000 in the allowance for doubtful accounts. If the company estimates that 8% of its outstanding receivables will be uncollectible. what was the bad debt expense for 2018 and what will be the balance in the allowance for doubtful accounts after the year- end adjustment to record bad debt expense? bad debt expense 24,000 allowance for doubtful accounts 18,000 O bad debt expense 18,000 allowance for doubtful accounts 24,000 O bad debt expense 30,000 allowance for doubtful accounts 24,000 O bad debt expense 24,000 allowance for doubtful accounts 30,000

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