The following is information taken from the June 30, 2020, balance sheet of Tippleton Company Accounts receivable Lesst Allowance for doubtful accounts $340,000 14800 $325,200 Part 1 During July, Tippleton Company recorded total sales of $904,000, all on credit. There were $32,000 of sales returns and allowances Collections during July were $982,000. Total receivables identified as being uncollectible and written off during July were $17.000 Tippleton estimates bad debts as 1% of net credit sales. Required: Prepare the adjusting entry to record estimated bad debts for July View transaction fist View journal entry worksheet Debit Credit General Journal NO Date 30 31 No Transaction Recorded Part 2 During August, total sales of $957.000 were recorded, all on credit. Sales returns and allowances totalled $16,000. Collections during the month were $812,000, which included the recovery of $2,000 from a customer account written off in a previous month. No accounts were written off during August. Tippleton Company changed its method of estimating bad debts to the balance sheet approach because the new accountant said it more accurately reflected uncollectible accounts. The resulting aging analysis determined total estimated uncollectible accounts at August 31 to be $15,000. Required: Prepare the August 31 adjusting entry to record estimated bad debts for August. View transaction list Journal entry worksheet Record the estimate for uncollectible accounts Debi Credit Date General Journal Vinmal con