Coffeldt Sign Company uses the allowance in accounting for uncollectible accounts. Past experience indicates that 1% of net credit sales will eventually be uncollectible. Selected account balance at December 31, 2015, and December 31, 2016, appear below: (a) Record the following events in 2016 Aug. 10 Determined that the account of Sue Lang for $1,000 is uncollectible. Oct. 10 Received a check for $550 as payment on account from Sue Lang, whose account had previously been written off as uncollectible. She indicated the remainder of her account would be paid in November (and the firm believes her). Nov. 15 Received a check for $450 from Sue Lang as payment on her account. (b) Prepare the adjusting journal entry to record the bad debt provision for the year ended December 31, 2016