Sage hill distributors, inc. had net sales in 2017 of $2,620,000. at december 31, 2017, before adjusting entries, the balances in selected accounts were accounts receivable $520,000 debit, and allowance for doubtful accounts $2,900 debit. if sage hill estimates that 6% of its receivables will prove to be uncollectible, prepare the december 31, 2017, journal entry to record bad debt expense. (credit account titles are automatically indented when the amount is entered. do not indent manually. if no entry is required, select "no entry" for the account titles and enter 0 for the amounts.)

Explanation:

The journal entry to record the bad debt expense is shown below:

Bad debt expense A/c Dr $34,100

 To Allowance for doubtful debts $34,100

(Being bad debt expense is recorded)

The computation of the bad debt expense is shown below:

= (Accounts receivable × estimated percentage given ) + (debit balance of Allowance for Doubtful Accounts)

= ($520,000 × 6%) +  ($2,900)

= $31,200 + $2,900

= $34,100

answer; ///i believe that the correct answer is (a); change the corporation's formal documents to make it easier for outside investors to acquire a controlling interest in the firm through a hostile

cognitive overload: having a lot on your mind impairs decision-making and tends to result in the simplest, but not necessarily best, option being selected.

empathy gaps: overlooking how you might feel in a different situation can result in unnecessary purchases, such as overbuying when shopping for food on an empty stomach.

optimism and overconfidence: wearing rose-tinted glasses and having unrealistic expectations about the future can affect money management and leave you unprepared for a change in circumstance.

instant gratification: seeking instant gratification drives impulsive spending and can undermine long-term planning and savings.

harmful habits: automatic or mindless behaviour can amplify a poor financial decision as it becomes a recurring event.

social norms: we are heavily influenced by the actions of others; while this can be in certain circumstances, it also contributes to the pressure to keep up with the joneses through conspicuous consumption.