FULL SCREEN PRINTER VERSION #BACK Question 16 The account balances of Blossom Company at December 31, 2021, the end of the current year, show Accounts Receivable $133,200; Allowance for Doubtful Accounts $1,600 (credit): Sales $1,053,800; Sales Returns and Allowances $40,000, and Sales Discounts $14,800. (a) Your answer is correct. Record the adjusting entry at December 31, 2021, assuming bad debts are estimated to be (1) 10% of accounts receivable, and (2) 1.5% of net sales. (Credit account titles are automatica indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) (b) Your answer is correct. Calculate the carrying amount of the accounts receivable for each approach to estimating uncollectible accounts in part (a) above. v (c) Assume instead that the Allowance for Doubtful Accounts had a debit balance of $1,900 at December 31, 2021. What is bad debt expense for 2021, and what is the carrying amount of the acco receivable at December 31, 2021, assuming bad debts are estimated to be (1) 10% of accounts receivable, and (2) 1.5% of net sales? (1) (2) Bad debts expense Carrying amount SHOW LIST OF ACCOUNTS LINK TO TEXT By accessing this Question Assistance, you will learn while you earn points based on the point Potential policy set by your instructor