Exercise 4-20B Recording estimates of future discounts LO P6 Med Labs has the following December 31 year-end unadjusted balances: Allowance for Sales Discounts 50, and Accounts Receivable. $5,400 of the $5.400 of receivables, S1,200 are within a 3% discount period, meaning that it expects buyers to take $36 in future period discounts arising from this period's sales o. Prepare the December 31year-end adjusting journal entry for future sales discounts. b. Assume the same facts above and that there is a 57 year-end unadjusted credit balance in Allowance for Sales Discounts. Prepare the December 31 year-end adjusting journal entry for future sales discounts. View transaction list Journal entry worksheet 1 2 Record the adjusting journal entry for future sales discounts Note: Enter debits before credits Saved mework Journal entry worksheet 1 2 Record the adjusting journal entry for future sales discounts, Note Enter debits before credits Date General Journal Debit Credit Dec 31 Record entry Clear entry View general Journal Search O E a Sheducation.com/exmap/index.html?_cona con external browser=0&linchrhttps253A%252F%252Fblackboard.sanaceus Saved Homework Journal entry worksheet to search O i a