The poverty line is set at a. two times the price of a new car. b. five times the value of average rent. c. three times the cost of providing an adequate diet. d. one-third of average family income.

On december 31 of the current year, the unadjusted trial balance of a company using the percent of receivables method to estimate bad debt included the following: accounts receivable, debit balance of $97,900; allowance for doubtful accounts, credit balance of $1,031. what amount should be debited to bad debts expense, assuming 6% of outstanding accounts receivable at the end of the current year are estimated to be uncollectible?