The Accounts Receivable balance for Highland Company at December 31, 2023, was $25,000. During 2024, Highland earned revenue of $455,000 on account and collected $323,000 on account. Highland wrote off $6,200 receivables as uncollectible. Industry experience suggests that uncollectible accounts will amount to 4% of accounts receivable. Read the requirements. Requirement 1. Assume Highland had an unadjusted $2,200 credit balance in Allowance for Bad Debts at December 31, 2024. Journalize Highland's December 31, 2024, 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 Dec. 31 Bad Debts Expense Debit Credit Allowance for Bad Debts Requirements - X 1. 2. Assume Highland had an unadjusted $2,200 credit balance in Allowance for Bad Debts at December 31, 2024. Journalize Highland's December 31, 2024, adjustment to record bad debts expense using the percent-of-receivables method. Assume Highland had an unadjusted $1,400 debit balance in Allowance for Bad Debts at December 31, 2024. Journalize Highland's December 31, 2024, adjustment to record bad debts expense using the percent-of-receivables method. Print Done