Exercise 9-3 The ledger of Costello Company at the end of the current year shows Accounts Receivable $116,000, Sales Revenue $846,000, and Sales Returns and Allowances $23,000 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 $1,900 balance is uncollectible. (Credit account titles are automatically in when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation Dec. 31 SHOW LIST OF ACCOUNTS If Allowance for Doubtful Accounts has a credit balance of $3,100 in the trial balance, journalize the adjusting entry at December 3 assuming bad debts are expected to be (1) 1% of net sales, and (2) 10% of accounts receivable. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit No. Date Account Titles and Explanation Credit (1) Dec. 31 (2) Dec. 31