Exercise 9-3 The ledger of Costello Company at the end of the current year shows Accounts Receivable $112,000, Sales Revenue $853,000, and Sales Returns and Allowances $28,000. If Costello uses the direct write-off method to account for uncollectible accounts, journalize the adjusting entry at December 31, assuming Costello determines that L. Dole's $2,300 balance is uncollectible. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31 Bad Debt Expense 2300 Accounts Receivable 2300 SHOW LIST OF ACCOUNTS LINK TO TEXT If Allowance for Doubtful Accounts has a credit balance of $3,200 in the trial balance, journalize the adjusting entry at December 31, assuming bad debts are expected to be (1) 1% of net sales, and (2) 12% of accounts receivable. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit No. Date (1) Dec. 31 (2) Dec. 31 SHOW LIST OF ACCOUNTS LINK TO TEXT If Allowance for Doubtful Accounts has a debit balance of $320 in the trial balance, journalize the adjusting entry at December 31, assuming bad debts are expected to be (1) 1% of net sales and (2) 6% of accounts receivable. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Date Account Titles and Explanation Debit Credit (1) Dec. 31 (2) Dec. 31