Attatched is One accounting question regardingCredit Losses Based on Credit Sales that I need help on, thanks for your patience. !

Credit Losses Based on Credit Sales Smith & Sons uses the allowance method of handling its credit losses. It estimates credit losses at two percent of credit sales, which were $1,900,000 during the year. On December 31, the Accounts Receivable balance was $300,000, and the Allowance for Doubtful Accounts had a credit balance of $21,400 before adjustment. a. Prepare the adjusting entry to record the credit losses for the year. b. Show how Accounts Receivable and the Allowance for Doubtful Accounts would appear in the December 31 balance sheet. a. General Journal Date Dec.3 1 Description Answer Answer Debit Credit Answer Answer Answer Answer To record allowance for credit losses. b. (Do not use negative signs with your answers.) Current Assets: Answer Answer $Answer Answer $