Glitter Watches completed the following selected transactions during 2018 and 2019 (Click the icon to view the transactions.) Read the requirements Requirement 1. The T-accounts for Allowance for Bad Debts and Bad Debts Expense have been opened for you, assuming the accounts begin with a zero balance Record the transactions in the general journal (omit explanations), and post to the two T-accounts (Record debits first, then credits. Exclude explanations from journal entries. Abbreviations used: Adi Adjusting entry, Clos. Closing entry, W/O Write-off) Begin by recording the 2018 transactions in the general journal Dec. 31: Estimated that bad debts expense for the year was 2% of credit sales of $480,000 and recorded that amount as expense. The company uses the allowance method Date Accounts and Explanation Debit Credit 2018 Dec. 31 (Adi) Dec. 31: Made the closing entry for bad debts expense. Credit Debit Accounts and Explanation Date 2018 Chance from any list or enter any number in the input fields and then continue to the next question 2018 Dec. 31 Estimated that bad debts expense for the year was 2% of credit sales of $480,000 and recorded that amount as expense. The company uses the allowance method. 31 Made the closing entry for bad debts expense. 2019 Jan. 17 Sold merchandise inventory to Malcom Monet, $1,200, on account. Ignore Cost of Goods Sold. Jun. 29 Wrote off Malcom Monet's account as uncollectible after repeated efforts to collect from him. Aug. 6 Received $1,200 from Malcol Monet, along with a letter apologizing for being so late. Reinstated Monet's account in full and recorded the cash receipt. Dec. 31 Made a compound entry to write off the following accounts as uncollectible: Brandon Kitter, $1,500; Maria Bennett, $1,300; and Rupert Robertson, $100. 31 Estimated that bad debts expense for the year was 2% on credit sales of $520,000 and recorded the expense. 31 Made the closing entry for bad debts expense