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Lester Company uses the allowance method and estimates its bad-debt expense based on aging the ...

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Lester Company uses the allowance method and estimates its bad-debt expense based on aging the ...

Lester Company uses the allowance method and estimates its bad-debt expense based on aging the receivables. Before the adjusting entry, the allowance for doubtful accounts had a $425 debit balance. Based on aged receivables, Lester estimates that $3,700 will probably prove uncollectible. What is the amount of the adjusting journal entry that Lester should make?
A) $3,700
B) $3,275
C) $4,125
D) $425

Textbook

Accounting, Volume 1, Canadian Edition

Edition: 9^th

Authors: Horngren, Harrison, Johnston, Meissner, Norwood

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