On April 20, 2021 Jon Snow Co. has just received notice that its customer The Wall Ltd. with an Accounts Receivable balance has gone bankrupt and will not make any future payments. Assuming Jon Snow Co. uses the allowance method for uncollectible accounts, the entry it should make on April 20, 2021 is to: a) Debit Bad Debts Expense and credit Allowance for Doubtful Accounts b) Debit Allowance for Doubtful Accounts and credit Accounts Receivable. c) Debit Bad Debts Expense and credit Accounts Receivable d) Debit Allowance for Doubtful Accounts and credit Bad Debts Expense
