The Accounts Receivable balance for Field, Inc. at December 31, 2017, was $28,000. During 2018, Field earned revenue of $453,000 on account and collected $324,000 on account. Field wrote off $6,400 receivables as uncollectible. Industry experience suggests that uncollectible accounts will amount to 2% of accounts receivable. Read the requirements. Requirement 1. Assume Field had an unadjusted $1,800 credit balance in Allowance for Bad Debts at December 31, 2018. Journalize Field's December 31, 2018, adjustment to record bad debts expense using the percent-of-receivables method. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Credit Debit 1,212 Dec. Accounts and Explanation Bad Debts Expense Allowance for Bad Debts 31 1,212 Recorded bad debts expense for the period. Requirement 2. Assume Field had an unadjusted $1,500 debit balance in Allowance for Bad Debts at December 31, 2018. Journalize Field's December 31, 2018, adjustment to record bad debts expense using the percent-of-receivables method. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Accounts and Explanation Debit | Credit Date Dec. 31 4,512 Bad Debts Expense Allowance for Bad Debts 4,512 Recorded bad debts expense for the period. The Accounts Receivable balance for Lantana, Inc. at December 31, 2017, was $23,000. During 2018, Lantana earned revenue of $462,000 on account and collected $329,000 on account. Lantana wrote off $6,400 receivables as uncollectible. Industry experience suggests that uncollectible accounts will amount to 3% of accounts receivable. Read the requirements Requirement 1. Assume Lantana had an unadjusted $2,300 credit balance in Allowance for Bad Debts at December 31, 2018. Journalize Lantana's December 31, 2018, adjustment to record bad debts expense using the percent-of-receivables method. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Dec. 31 Requirements Assume Lantana had an unadjusted $2,300 credit balance in Allowance for Bad Debts at December 31, 2018. Journalize Lantana's December 31, 2018, adjustment to record bad debts expense using the percent-of-receivables method. Assume Lantana had an unadjusted $1,800 debit balance in Allowance for Bad Debts at December 31, 2018. Journalize Lantana's December 31, 2018, adjustment to record bad debts expense using the percent-of-receivables method. Choose from any list or enter any num 2. 1 part remaining Check Answer The Accounts Receivable balance for Lantana, Inc. at December 31, 2017, was $23,000. During 2018, Lantana earned revenue of $462,000 on account and collected $329,000 on aco Lantana wrote off $6,400 receivables as uncollectible. Industry experience suggests that uncollectible accounts will amount to 3% of accounts receivable. Read the requirements. Requirement 1. Assume Lantana had an unadjusted $2,300 credit balance in Allowance for Bad Debts at December 31, 2018. Journalize Lantana's December 31, 2018, adjustment to record bad debts expense using the percent-of-receivables method. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Dec. 31 Accounts Payable Accounts Receivable Allowance for Bad Debts Bad Debts Expense Cash Sales Revenue AcYun CITICIS 1. Assume Lantana had an unadjusted $2,300 credit balance in Allowance for Bad Debts at December 31, 2018. Journalize Lantana's December 31, 2018, adjustment to record bad debts expense using the percent-of-receivables method. Assume Lantana had an unadjusted $1,800 debit balance in Allowance for Bad Debts at December 31, 2018. Journalize Lantana's December 31, 2018, adjustment to record bad debts expense using the percent-of-receivables method. Choose from any list or enter any num. 2. part remaining Check