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S8-7 (similar to) Question Help The Accounts Receivable balance for North, Inc. at December 31, 2017, was $29,000. During 2018, North earned revenue of $458,000 on account and collected $331,000 on account. North wrote off $6,300 receivables as uncollectible. Industry experience suggests that uncollectible accounts will amount to 3% of accounts receivable. Read the requirements. Requirement 1. Assume North had an unadjusted $2,800 credit balance in Allowance for Bad Debts at December 31, 2018. Journalize North's December 31, 2018, adjustment to record bad debts expense using the percent-of-receivables method. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Dec. 31 Bad Debts Expense 10940 Allowance for Bad Debts 10940 Recorded bad debts expense for the period. i Requirements 1. Assume North had an unadjusted $2,800 credit balance in Allowance for Bad Debts at December 31, 2018. Journalize North's December 31, 2018, adjustment to record bad debts expense using the percent-of-receivables method. Assume North had an unadjusted $1,400 debit balance in Allowance for Bad Debts at December 31, 2018. Journalize North's December 31, 2018, adjustment to record bad debts expense using the percent-of-receivables method. 2. Print Done Choose from any list or enter any number in the input fields and then click Check Answer. ? 1 part Clear All Check Answer remaining