The Accounts Receivable balance for Wedge Company at December 31, 2017, was $ 28000. During 2018, Wedge earned revenue of $ 452000 on account and collected $ 330 000 on account. Wedge wrote off $ 6000 receivables as uncollectible. Industry experience suggests that uncollectible accounts will amount to 6% of accounts receivable.

Requirement 1. Assume Wedge had an unadjusted $ 2100 credit balance in Allowance for Bad Debts at December 31, 2018. Journalize Wedge'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 Accounts and Explanation Debit Credit Dec. 31

Requirement 2. Assume Wedge had an unadjusted $ 2 000 debit balance in Allowance for Bad Debts at December 31, 2018. Journalize Wedge'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 Accounts and Explanation Debit Credit Dec. 31