Account Titles and Explanation Debit Credit Accounts Receivable 1,623.000 Sales Revenue 1,623.000 (To record credit sales) Sales Returns and Allowances 109.000 Accounts Receivable 109.000 (To record credits to customers) | Cash 1,307,000 Accounts Receivable 1,307.000 (To record collection of receivables) Allowance for Doubtful Accounts 35.000 35.000 Accounts Receivable (To write off specific accounts) Accounts Receivable .000 C Allowance for Doubtful Accounts 2.000 (To reverse write-off of account) Cash 2.000 C Accounts Receivable 9.000 (To record collection of account) e Textbook and Media List of Accounts - Your answer is partially correct. If the company uses the percentage of receivables basis to estimate bad debt expense and determines that uncollectible accounts are expected to be 8% of accounts receivable, what is the adjusting entry at December 31, 2022 (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31 Bad Debt Expense Allowance for Doubtful Accounts The December 31, 2021, balance sheet of the Marigold Corp. had Accounts Receivable of $700,000 and a credit balance in Allowance for Doubtful Accounts of $32,000. During 2022, the following transactions occurred: sales on account $1,623,000; sales returns and allowances, $109,000;collections from customers, $1,307,000; accounts written off, $35,000; previously written off accounts of $9,000 were collected