The Accounts Receivable balance for Highland Company at Docember 31, 2015, was 523.000 . Durng 2016. Highland earned revenue of 5458.000 on accourt and celleckd $321,000 on account. Highland wrote off $5,400 receivables as uncolloctible. Industry experince suggests that uncollectible accounte will ameant to $5 of account receivable. Read the Requirements 1. Assume Highland had an unadjusted $2,500 credit balance in Allowance for Bad Debts at December 31,2016. Journalize Highland's December 31, 2016, adjustment to record bad debts expense using the percent-of-receivables method. 2. Assume Highland had an unadjusted $2,200 debit balance in Allowance for Bad Debts at December 31, 2016. Journalize Highland's December 31, 2016, adjustment to record bad debts expense using the percent-of-receivables method. tatis (1) thele