A company had the following items and amounts in its unadjusted trial balance as of December 31 of the current year: 
Prepare the adjusting entry to estimate bad debts assuming bad debts are estimated to be 2.5% of credit sales.
Definitions:
Marketing Efforts
Various activities undertaken by companies to promote and sell their products or services to the target audience.
Market Segment
A subgroup of people or organizations within a broader market that share similar characteristics, needs, or purchasing behaviors.
Relay for Life
A fundraising event organized by the American Cancer Society, aimed at supporting cancer research and patients.
American Cancer Society
A nationwide voluntary health organization dedicated to eliminating cancer as a major health problem, through research, education, advocacy, and service.
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