2 1.5 pts Use the following information from Cobra Koi's Pond Supplies to answer the homework questions. Round all answers to the nearest whole dollar. Note that not all of the information may be required for every question. Cobra Koi's Pond Supply Accounting Receivable Aging as of June 30, 2023 Current 250,000 1-90 300,000 91-180 160,000 181-360 88,000 361+ Total 45,000 843,000 Cobra Koi had total sales of $400,000 for the month of June. As of May 31, Cobra Koi had a credit balance of $24,000 in their Allowance for Doubtful Accounts. Using the Percentage of Receivables Method and a 3% reserve rate, what should be the balance in the reserve account as of the end of June? Does Cobra Koi need to increase or decrease the reserve? By how much does Cobra Koi need to adjust the reserve? What is the journal entry to adjust the reserve? DR: CR