1 . Assume Lantana had an unadjusted $2,800 credit balance in Allowance for Bad Debts at December 31, 2024. Journalize Lantana's December 31 , 2024, adjustment to record bad debts expense using the percent-of-receivables method

2. Assume Lantana had an unadjusted $2,200 debit balance in Allowance for Bad Debts at December 312024. Journalize Lantana's December 31, 2024 adjustment to record bad debts expense using the percent-of-receivables method

The Accounts Receivable balance for Lantana Company at December 31, 2023, was $30,000. During 2024, Lantana earned revenue of $459,000 on account and collected $324,000 on account Lantana wrote off S6,400 receivables as uncollectible Industry experience suggests that uncollectible accounts will amount to 4% of accounts receivable Read the requirements Requirement 1. Assume Lantana had an unadjusted $2,800 credit balance in Allowance for Bad Debts at December 31, 2024. Journalize Lantana's December 31, 2024 adjustment to record bad debts expense using the percent-of-receivables method (Record debits first, then credits. Select the explanation on the last tine of the journal entry table.) Date Accounts and Explanation Debit Credit Dec 31 Requirement 2. Assume Lantana had an unadjusted 52,200 debit balance in Allowance for Bad Debts at December 31, 2024 Journalize Lantana's December 31, 2024 adjustment to record bad debts expense using the percent-of-receivables method (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Dec 31