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Underwood Company's ledger at the end of the current year shovs Accounts Receivable of $150,000. If Allowance for Doubtful Accounts has a credit balance of $4,500 in the trial balance and bad debts are expected to be 8% of accounts receivable, journalize the adjusting entry for the end of the period. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit SHOW LIST OF ACCOUNTS LINK TO TEXT If Allowance for Doubtful Accounts has a debit balance of $4,500 in the trial balance and bad debts are expected to be 8% of accounts receivable, journalize the adjusting entry for the end of the period. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Click if you would like to show Work for this question: Open Show Work List of Accounts Brief Exercise 182 a-b Accounts Payable Accounts Receivable Allowance for Doubtful Accounts Bad Debt Expense Cash Cost of Goods Sold Income Summary Interest Receivable Interest Revenue Inventory Notes Receivable Other Operating Expenses Owner's Capital Prepaid Insurance Sales Discounts Sales Returns and Allowances Sales Revenue Service Charge Expense Supplies Supplies Expense

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