The Accounts Receivable balance for Lantana, Inc. at December 31, 2017, was $26,000. During 2018, Lantana earned revenue of $458,000 on account and collected $327,000 on account. Lantana wrote off $6,200 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 $2,000 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 Requirements Dec. 31 1. Assume Lantana had an unadjusted $2,000 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 $1,900 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. 2. Print Done