Pike Lake Tours uses the % of Credit Sales method to calculate their allowance and the rate they use is 4.0%. The general ledger has the following balances at the end of their business year.

Accounts Receivable........................................... 45,300

Allowance for Doubtful Accounts.............................................. 1,250

Credit Sales Revenue................................................................... 160,000

Bad Debt Expense............................................... 0

After you enter the Journal to reflect the year-end adjustment the account balances will be

Accounts Receivable Blank 1

Allowance for Doubtful Accounts Blank 2

Credit Sales Revenue Blank 3

Bad Debt Expense Blank 4