The Accounts Recelvable baiance for Lantana Company at December 31, 2023. was $23,000. During 2024, Lantana eamod revenue of \$462.,000 cn account and collecied $328,600 on account. Lantana whobe off $5,500 recevables as uncollectble. Indistry experience suggests that uncolectible accounts wil amount to 6% of accounts receivable Resd the teouirements Requirement 1. Assume Lantana had an unagusled \$2,460 crodt bahance in Alowance for Bad Dobts at December 31, 2024. Joumalize Lantana's December 31, 2024, odistment to rocord bed. debts expense using the percent-of-recetrables method. (Rooord sebts frat, then credits. Solect the explanation on the last ine of the joumal entry table.) Read the requirements. Requirement 1. Assume Lantana had an unadjusted $2,400 credit balance in Allowance for Bad Debts at December 31, 2024. Journalize Lantana's December 31 debts expense using the percent-of-recelvables method. (Record debits first, then credits. Select the explanation on the last line of the joumal entry table.) Requirements 1. Assume Lantana had an unadjusted $2,400 credit balance in Allowance for Bad Debts at December 31, 2024, Journalize Lantana's December 31, 2024, adjustment to record bad debts expense using the percent-of-recelvables method. 2. Assume Lantana had an unodjusted $2,200 debit balance in Alowance for Bad Dobts at December 31, 2024. Joumalize Lantana's December 31, 2024. adjustment to record bad debts expense using the percent-of-roceivables method