I don't understand can you please help.Thank you. If I need to post more I will.

v2.cengagenow.com Chapter 16 Homework - ACNT1325-LMATHEWS-Online My Home CengageNOWv2 | Online teaching and learning resource eBook Print Item Uncollectible Accounts-Percentage of Sales and Percentage of Receivables At the completion of the current fiscal year ending December 31, the balance of Accounts Receivable for Yang's Gift Shop was $29,060. Credit sales for the year were $360,400. Required: Make the necessary adjusting entry in general journal form under each of the following assumptions. Show calculations for the amount of each adjustment and the resulting net realizable value. 1, Allowance for Doubtful Accounts has a credit balance of $305. a. The percentage of sales method is used and bad debt expense is estimated to be 2% of credit sales. If an amount box does not require an entry, leave it blank. Page: DATE ACCOUNT TITLE DOC. POST. DEBIT CREDIT NO. REF. 1 20-- Dec. 31 Allowance for Doubtful Accounts 2 Accounts Receivable 2 Allowance for Doubtful Accounts Bad Debt Expense Accounts receivable, Cash Less allowance for do Sales Net realizable value b. The percentage of receivables method is used and an analysis of the accounts produces an estimate of $6,935 in uncollectible accounts. If an amount box does not require an entry, leave it blank. Page: DOC. POST. DATE ACCOUNT TITLE DEBIT CREDIT NO. REF. Previous Next Check My Work 2 more Check My Work uses remaining. Save and Exit Submit Assignment for Grading All work saved