70 Question 24 of 32 View Policies Current Attempt in Progress An inexperienced accountant made the following entries. In each case, the explanation to the entry is correct Assume that at 12/31. the correct balance of the Allowance account before adjustment is 5-0. Dec 17 Cash 6,900 Sales Discounts Accounts Receivable 6,970 (To record collection of 1214 sales, terms 2/10, 1/30) 1.100 Bad Debt Expense 1.100 (Collection of account previously written off as uncollectible under allowance method) Bad Debt Expense 2000 Allowance for Doubtful Accounts 2.000 (To recognize estimated bad debts based on 3% of accounts receivable of $770.000) Prepare the correcting entries. (Credit accountities are automatically indented when the amount is entered. Do not indent manually Record journal entries in the order presented in the problem)