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At December 31, 2015, Ethan Company reports the following results for its calendar-year. Cash sales $ 2,103,140 Credit sales 3,316,000 In addition, its unadjusted trial

At December 31, 2015, Ethan Company reports the following results for its calendar-year. Cash sales $ 2,103,140 Credit sales 3,316,000 In addition, its unadjusted trial balance includes the following items. Accounts receivable $ 1,004,748 debit Allowance for doubtful accounts 16,510 debit There was objective evidence that 11% of a $142,000 debt owed by a debtor, Nathan Company, would most probably be uncollectible. An aging analysis of the rest of the accounts receivables indicated that an estimated 7% of these accounts would not be collectible.

Prepare the adjusting entry for this company to recognize bad debts.(Round your intermediate calculations and and final answers to the nearest dollar amount. Omit the "$" sign in your response.)

Dec 31 Bad debts expense (?)

Allowance for doubtful accounts ( ?)

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