3. Lululemon Inc. prepares its year ends and they have gathered the following sales and corporate client accounting records for the year ended December 31, 2019, prior to adjustment: (20 marks) (Account Receivable) Sale Records Total Revenues $500,000 and Net Credit Sales $380,000 Accounts Receivable (Dec 31, 2019) = $20,000 Allowance for Uncollectible Accounts, prior to adjustment (Dec 31, 2019) = $5,000 debit balance Lululemon Inc. uses the allowance method of accounting for bad debts and estimates bad debts at 5% of net credit sales. Required a. Prepare the adjusting entry on December 31, 2019. te Account Explanation Dr Cr of 10 735 words - English (US 10095 + Give Feedbac