Record the adjusting entry at December 31 the end of the first fiscal year to record the bad debt expense. The accounts receivable account has a balance of $800,000 and the contra asset account before adjustment has a debit balance of $600. Analysis of the receivables indicates uncolletible receivables of$ 18000.

4. Beginning inventory, purchases, and sales data for tennis rackets are as follows: April 3 Inventory 12 units a 13 units a 18 units 9 units a 10 units S4 S47 11 Purchase 14 Sale 21 Purchase 25 Sale Complete the inventory cost card assuming the business maintains a perpetual inventory system and calculates merchandise sold and ending inventory using LIFO. Cost of Merchandise Sold Purchases Inventory Unit Total Date Qty. Cost Cost Qty. Cost Cost Unit Total Unit Total Balances