N. No dividends are to be declared for 2018. 0. Management uses the percentage-of-receivables approach for estimating the percent of receivables that will become uncollectible. They have determined that allowance for doubtful accounts should represent 3.5% of the accounts receivable balance, initiating a 1% increase due to the economic circumstances of many of its customers. Adjustment should be made based on the adjusted accounts receivable balance. Note: 2018 Tax rate is 30%. Bust-a-Move Snowboard has asked you to make the following adjusting journal entries to record the following transactions (A-O): Tral Balance December 31, 2018 Account Title Credit Debit 124,000 96,000 2.400 manu 54.115 24,000 6,000 48.000 250,000 75.000 50,000 21,000 Cash Accounts Receivable Allowance for Doubtful accounts Inventory Prepaid Rent Supplies Land Building Equipment Accumulated Depreciation, Building Accumulated Depreciation, Equipment Goodwilt Patent Accounts Payable Notes Payable Uneamed Service Revenue Common Stock Retained Eamings Revenue Salary Expense Cost of Goods Sold Advertising Expense Rent Expense Miscellaneous Expense 35.500 15,500 S www MU 132.715 178,000 122.000 08.000 126.000 688,000 sanonu 440.000 201,000 15.000 32,000 1,000 1.417.115 S 1.417.115 You have just received a second interview with Bust-a- Move Snowboard, Incorporated. The pay is fantastic at $25/ hour. Before they make you a job offer, they invite you in to participate in their year-end close process. They have invited 6 college students to participate in the process. The competition is fierce. The applicant who completes their financial statements without error will be awarded the job