Den 2 Not yet awered Marked out of 11.00 Flag question Credit Losses Based on Credit Sales Lewis Company uses the allowance method for recording ts expected credit losses, it estimates credit losses at 6 of credit sales which were $1.500.000 during the year. On December 31, the Accounts Receivable balance was $650,000 and the Allowance for Doubtful Accounts had a credit balance of $60,200 before adjustment a. Prepare the adjusting entry to record the credit fosses for the year b. Show how Accounts Receivable and the Allowance for Doubtful Accounts would appear in the December 31 balance sheet a General Journal Description Debit Credit Date Decal To record allowance for credit losses Current Assets . 1. Do not use negative signs with your answers)