At year-end Chan Company estimates its bad debts as 1.5% of its annual credit sales of $975,000. If the current balance of the allowance account (prior to year-end) is a credit of $1,000, calculate the amount of the adjusting entry to reflect the desired year-end balance.

You are attending college in the fall and you need to purchase a computer. you must finance the purchase because your parents will not purchase it for you, and you do not have the cash on hand to purchase it. in blank #1 determine which type of credit would you use to finance your purchase (installment, non-installment, or revolving credit). (2 points) in blank #2 defend your credit choice by explaining why your financing option is the best option for you. (2 points) in blank #3 explain why you selected that credit option over the other two options available. (2 points)