Score: 0 of 1 pt 2 of 11 (4 complete) HW Score: 20.62%, 2.27 of 11 pts X) 58-7 (similar to) Question Help The Accounts Receivable balance for Highland, Inc. at December 31, 2017, was $25,000. During 2018, Highland earned revenue of $459,000 on account and collected $324.000 on account Highland wrote off $6,000 receivables as uncollectible Industry experience suggests that uncollectible accounts will amount to 4% of accounts receivable. ome Read the requirements Requirement 1. Assume Highland had an unadjusted $2,500 credit balance in Allowance for Bad Debts at December 31, 2018. Journalize Highland's December 31, 2018, adjustment to record bad debts expense using the percent of receivables method (Record debitsrst, then credits. Select the explanation on the last line of the journal entry table) Date Crean Dec. 31 Accounts and Explanation Bad Debts Expense Allowance for Bad Debts Text ia Lib Recorded bad debts expense for the period tudy