The ledger of J.C. Cobb Company at the end of the current year shows Accounts Receivable $150,000, Sales Revenue $850,000, and Sales Returns and Allowances $30,000. a.) If J.C. Cobb uses the direct write-off method to account for uncollectible accounts, journalize the adjusting entry at December 31, assuming J.C. Cobb determines that M. Jack's $1,500 balance is uncollectible. b.)lf Allowance for Doubtful Accounts has a credit balance of $2,400 in the trial balance, journalize the adjusting entry at December 31, assuming bad debts are expected to be 10% of accounts receivable. c.) If Allowance for Doubtful Accounts has a debit balance of $200 in the trial balance, journalize the adjusting entry at December 31, assuming bad debts are expected to be 6% of accounts receivable. [Label your answers!]

The ledger of J.C. Cobb Company at the end of the current year shows Accounts Receivable $150,000, Sales Revenue $850,000, and Sales Returns and Allowances $30,000. a.) If J.C. Cobb uses the direct write-off method to account for uncollectible accounts, journalize the adjusting entry at December 31 , assuming J.C. Cobb determines that M. Jack's $1,500 balance is uncollectible. b.) If Allowance for Doubtful Accounts has a credit balance of $2,400 in the trial balance, journalize the adjusting entry at December 31 , assuming bad debts are expected to be 10% of accounts receivable. c.) If Allowance for Doubtful Accounts has a debit balance of $200 in the trial balance, journalize the adjusting entry at December 31 , assuming bad debts are expected to be 6% of accounts receivable. [Label your answers!]