At December 31, 2019, mith Co. hnd the following balio dan Accounts Receivable Allowance Doubtful Accounts $75,000 20,000 During 2020, Smith Co, recorded the following transaction: 1. Sales on account Sales for cash Total Sales $420,000 56.000 $482,000 2. Collections on account $260,000 3 Write-ots of uncollectible receivables $15,000 Instructions: Remember Joumal Entries do not have dollar signs. Using the word bank below: (1) Journalize the transactions recorded in 2020, Journale Smith's adjustment to record bad debt expense assuming Smith estimates bad debts of 6% of credit Accounts Receivable Accounts Payable Sales Revenue Word Bank Cash Cash Receivable Uncollectible Accounts Receivable MacBook Air 0 8 F2 000 000 F3 F4 *** FS @ 1 2 # 3 $ 4 % 5 6 7. ) Journalise Smith's adjustment to moord bad debt expense assuming Smith estimatoo bad debts of 6% of credit sales Word Bank Accounts Receivable Cash Accounts Payable Cash Receivable Sales Revenue Uncollectible Accounts Receivable Allowance for Doubtful Accounts Uncollectible Debit Expense Bad Debt Expense Write-Off Allowance (1) Account Titles Debit Credit 1 2 3 For Bank Account Titles Debit Credit MacBook AS o FI ODO F2 F3 000 4 FS F? ! G) 2 3 $ 4 % 5 6 & 7 Accounts Payable Sales Revenge Allowance for Doubtful Accounts Bad Dobt Expense Croh Receivable Uncollectible Accounts Receivable Uncollectible Debt Expono Write-Off Allowance (1) Debit untities Credit 1. 3 Account Title Debit Credit Moving to anche question will save this response MacBook Air F1 80 F2 F3 DOO F4 13 FS 67