Cornerstone Exercise 5-26 (Algorithmic) Write-Off of Uncollectible Accounts The Rock has credit sales of $455,000 during 2019 and estimates at the end of 2019 that 2% of these credit sales will eventually defa purchased in 2019. Required: 1. Prepare the journal entry to record the defaulted balance. Allowance for Doubtful Accounts 1,900 Accounts Receivable 1.900 Record write-off of defaulted account 2. Prepare the adjusting entry to record the bad debt expense for 2019. Bad Debt Expense Allowance for Doubtful Accounts Record adjusting entry for bad debt expense estimate Cornerstone Exercise 5-26 (Algorithmic) Write-Off of Uncollectible Accounts The Rock has credit sales of $455,000 during 2019 and estimates at the end of 2019 that 2% of these credit sales will eventually defa purchased in 2019. Required: 1. Prepare the journal entry to record the defaulted balance. Allowance for Doubtful Accounts 1,900 Accounts Receivable 1.900 Record write-off of defaulted account 2. Prepare the adjusting entry to record the bad debt expense for 2019. Bad Debt Expense Allowance for Doubtful Accounts Record adjusting entry for bad debt expense estimate