During the year ended December 31, 2018, Kelly's Camera Shop had sales revenue of $195.000, of which $97,500 was on credit. At the start of 2018, Accounts Receivable showed a $12,000 debit balance and the Allowance for Doubtful Accounts showed a $650 credit balance Collections of accounts receivable during 2018 amounted to $73.000. Data during 2018 follow: a. On December 10, a customer balance of $1,750 from prior year was determined to be uncollectible, so it was written off. b. On December 31, a decision was made to continue the accounting policy of basing estimated bad debt losses on 2 percent of credit sales for the year Required: 1. Give the required journal entries for the two events in December 2. Show how the amounts related to Accounts Receivable and Bad Debt Expense would be reported on the balance sheet and income statement for 2018. 3. On the basis of the data available, does the 2 percent rate appear to be reasonable? Complete this question by entering your answers in the tabs below. Reg1 Reg 2A Reg 2B Give the required journal entries for the two events in December. (If no entry is required for a transaction/event, select "No lournal Entry Required in the first account field.) View transaction list Journal entry worksheet 3 18 Next >