On December 31^st, 2020, Adidas had the following balances before adjustments:

	Debit	Credit
Accounts Receivable	532,000
Allowance for Doubtful Accounts		3,365
Credit Sales		1,765,000

To do...

1. Assume that uncollectible accounts are estimated to be 5% of accounts receivables. Prepare the necessary adjusting entry with December 31, 2020 as the entry date. Journal entry narrative is not required.

Assume that uncollectible accounts are estimated to be 2% of credit sales. Prepare the necessary adjusting entry with December 31, 2020 as the entry date.

P1

	General Journal
Date	Account Titles and Explanation	Debit	Credit

P2

	General Journal
Date	Account Titles and Explanation	Debit	Credit