During the year ended December 31, 2018, Kelly's Camera Shop had sales revenue of $150,000, of which $75,000 was on credit. At the start of 2018, Accounts Receivable showed a $12,000 debit balance and the Allowance for Doubtful Accounts showed a $560 credit balance. Collections of accounts receivable during 2018 amounted to $64,000 Data during 2018 follow: 15 a. On December 10, a customer balance of $1,300 from a 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 points Skipped credit sales for the year Required Print 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? References Complete this question by entering your answers in the tabs below Req 1 Req 2A Req 2B Req 3 Give the required journal entries for the two events in December. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 2 Record the write-off of a certain customer account from a prior year which is not collectible totaling $1,300 Note: Enter debits before credits. Date General Journal Debit Credit Print Journal entry worksheet References Record the write-off of a certain customer account from a prior year which is not collectible totaling $1,300 Note: Enter debits before credits Date General Journal Debit Credit Dec 10, 2018 Record entry Clear entry View general journal Req1 Req 2A > Req 1 Req 2A Req 2B Req 3 Give the required journal entries for the two events in December. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 2 Record the estimated bad debt losses at 2 percent of credit sales for the year. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31, 2018 Record entry Clear entry View general journal Req Req 2A Req 1 Req 2A Req 2B Req 3 Show how the amounts related to Bad Debt Expense would be reported on the income statement? Kelly's Camera Shop Income Statement (partial) Year ending December 31, 2018 Operating Expenses Req 1 Req 2B > Req 1 Req 2A Req 2B Req 3 Show how the amounts related to Accounts Receivable would be reported on the balance sheet? Kelly's Camera Shop Balance Sheet (partial) At December 31, 2018 Current Assets KReq 2A Req 3 > Req 1 Req 2A Req 2B Req 3 On the basis of the data available, does the 2 percent rate appear to be reasonable? Does the 2 percent rate appear to be reasonable? Req 2B Req 3