The December 31, 20XX balance sheet of the Kramer Company had Accounts Receivable of $650,000 and a credit balance in Allowance for Doubtful Accounts of $33,000. During 2017, the following transactions occurred: sales on account $1,550,000; sales returns and allowances, $100,000; collections from customers, $1,250,000; accounts written off, $35,000; previously written off accounts of $8,000 were collected.

(a) Journalize the 20XX transactions. Date Debit Credit (b) determines that uncollectible accounts are expected to be 6% of accounts receivable, what is the adjusting entry at December 31, 20XX? If the company uses the percentage of receivables basis to estimate bad debt expense and