Chegg Study Order Conf 2.5% Menu Tayvone Morton . Credit Losses Based on Credit Sales Harris Company uses the allowance method of handling its credit losses. it estimates credit losses at 1.5 percent of credit sales, which were $2,700.000 during the year. On December 31, the Accounts Recelvable balance was $475.000 and the Allowance for Doubtful Accounts had a credit balance of $30,600 before adjustment Prepare the adjusting entry to record the credit losses for the year Show how Accounts Receivable and the Allowance for Doubtful Accounts would appear in the December 31 balance sheet. General Journal Date Dec.31 Alowance for Dulbdul Accountsx Bod Debes Expense To record allowance for credit losses b(Do not use negative signs with your answers