redit Losses Based on Credit Sales Highland Company uses the allowance method of handing credit losses. It estimates tredit losses at 8% of credit sales which were 59,400,000 during the year. On December 31, the Accounts Receivable balance was 52.246.000 and the lowance for Doubtful Accounts had a credit balance of 513,600 before adjustment Prepare the adjusting entry to record the credit losses for the year show how Accounts Receivable and the Allowance for Doubthal Accounts would appear in the December 31 balance sheet Debat Credit General Journal Date Description Dec ad Deitse Alowance for Do not use netvers with your answers Current Ace Anna 0 pameti