The Accounts Receivable balance for Lakeside Company at December 31, 2023, was $22,000. During 2024, Lakeside earned revenue of $459,000 on account and collected $331,000 on account. Lakeside wrote off $6,100 receivables as uncollectible. Industry experience suggests that uncollectible accounts will amount to 6% of accounts receivable. Read the requirements. Requirement 1. Assume Lakeside had an unadjusted $2,500 credit balance in Allowance for Bad Debts at December 31, 2024. Journalize Lakeside'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 Allowance for Bad Debts Recorded bad debts expense for the period. Debit Credit