Current Attempt in Progress The account balances of Sunland Company at December 31, 2021, the end of the current year, show Accounts Recelvable $201.600: Allowance for Doubtful Accounts $2,500 (credit): Sales $1.574,400; Sales Returns and Allowances $40,000: and Sales Discounts $22.400 (a) Your answer is correct Record the adjusting entry at December 31, 2021, assuming bad debts are estimated to be (1) 10% of accounts receivable, and 1211 5% of net sales (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Ceutate the carrying amount of the accounts receivable for each approach to estimating uncollectible accounts in part (a) above 5 11440 (1) Carrying amount (2) Carrying amount $ e Textbook and Media List of Accounts Stora last saved days ago Saved work will be auto-submitted on the due date Attempts of Sused Submit Answer Type here to search FI ENG 15.05 02-04-202 assessmenteducation.wiley.com/was/ui/v2/assessment- Ch 8 Learning Assignment 0.33/1 Question 3 of 5 Record the adjusting entry at December 31, 2021, assuming bad debts are estimated to be (1) 10% of accounts receivable, and (2) 1.5% of net sales. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Debit Credit 17660 1766 No. Date Account Titles and Explanation Dec (1) Bad Debt Expense 31 Allowance for Doubtful Accounts (To record estimate of uncollectible accounts: Dec ( Bad Debt Expense 31 22680 2268 Allowance for Doubtful Accounts (To record estimate of uncollectible accounts. e Textbook and Media * ENG 1505 02-04-2021 10) g 3 O E FI Type here to search