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The Accounts Receivable balance for Gold Company at December 31, 2017, was $30,000. During 2018, Gold eamed revenue of $452.000 on account and colecte $328,000

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The Accounts Receivable balance for Gold Company at December 31, 2017, was $30,000. During 2018, Gold eamed revenue of $452.000 on account and colecte $328,000 on account. Gold wrote off $6,000 receivables as uncollectible. Industry experience suggests that uncollectible accounts will amount to 3% of accounts receivable Read the tequirements Requirement 2. Assume Gold had an unadjusted $1,500 debit balance in Allowance for Bad Debts at December 31, 2018 Journalize Golds 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 joumal entry table.) Date Accounts and Explanation Debit Credit Dec. 31 Choose from any list or enter any number in the input fields and then continue to the next

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