4) The ledger of Crib Company at the current year (2020) shows Accounts Receivable $160,000, Sales Revenue $850,000 and Sales Returns and Allowances $40000. Net Accounts Receivable in 2019 was $140,000. Instructions If on June 1st Crib determined that $1,500 owed by M. Jackson will be uncollected, journalize the entry. a) If Allowance for Doubtful Accounts has a credit balance of $2,400 in the trial balance, journalize the adjusting entry at December 31, assuming bad debts are expected to be 10% of accounts receivable. If Allowance for Doubtful Accounts has a debit balance of $2400 in the trial balance, journalize the adjusting entry at December 31, assuming bad debts are expected to be 10% of accounts receivable