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Exercise 5-20B Recording estimates of future discounts LO P6 Med Labs has the following December 31 year-end unadjusted balances: Allowance for Sales Discounts, 50, and Accounts Receivable, $6,700. Or the $6.700 of receivables. 51,850 are within a 2% discount period, meaning that it expects buyers to take $37 in future period discounts arising from this period's sales a. Prepare the December 31 yearend adjusting journal entry for future sales discounts b. Assume the same facts above and that there is a $12 year-end unadjusted credit balance in Allowance for Sales Discounts. Prepare the December 31 year end adjusting journal entry for future sales discounts View transactionist Journal entry worksheet 1 2 a. Record the adjusting journal entry for future sales discounts er det er bed Date General Journal Dehit Credit Dec 31 Record entry Clear entry Viewer journal