Darly Corporation uses the Percentage of Accounts Recelvable allowance method to estimate its bad debt expense. At the end of the year the company estimates that it has $5,200 of uncollectible accounts. It currently has a credit balance of $2,500 in its allowance for doubtful accounts. What journal entry should Darly Corporation make on December 31 to adjust its allowance account? Cr What effect does this entry have on the accounting equation? Assets Liabilities+Equity a- 5- In January of the following year, a customer who owed s balance 530 went bankrupt and will not have to pay their owed. What journal entry should the company make to record this event? Dr Cr What effect does this entry have on the accounting equation? Assets LiabilitiesEquity B- 018