Suzuki Supply reports the following amounts at the end of 2024 (before adjustment).

Credit Sales for 2024	$244,000
Accounts Receivable, December 31, 2024	39,000
Allowance for Uncollectible Accounts, December 31, 2024	1,100	(Credit)

Required:

1. Record the adjusting entry for uncollectible accounts using the percentage-of-receivables method. Suzuki estimates 12% of receivables will not be collected. 2. Record the adjusting entry for uncollectible accounts using the percentage-of-credit-sales method. Suzuki estimates 3% of credit sales will not be collected. 3. Calculate the effect on net income (before taxes) and total assets in 2024 for each method.

\begin{tabular}{|l|l|} \hline Percentage of Receivables Method & Percentage of Credit Sales Method \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|} \hline Date & General Journal & Debit & Credit \\ \hline December 31,2024 & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular}