Question 8 (2 points) River Forest, Inc.'s $180,000 Accounts Receivable balance at December 31 consisted of $160,000 current balances and $20,000 past-due balances. At December 31, the Allowance for Doubtful Accounts had a credit balance of $1,600. River Forest estimated that 2% of current balances and 15% of past-due balances will prove uncollectible. The adjusting entry to record credit losses is: 4.600 .4,600 4.200 4,200 Bad Debts Expense Allowance for Doubtful Accounts Bad Debts Expense Accounts Receivable Bad Debts Expense Allowance for Doubtful Accounts Bad Debts Expense Allowance for Doubtful Accounts 7,400 7.400 5.800 5,800 5,200 Bad Debts Expense Allowance for Doubtful Accounts 5,200