The ledger of Novak Company at the end of the current year shows Accounts Recievable $130,000, Sales Revenue $857,000, and Sales Return and Allowances $27,000

The ledger of Novak Company at the end of the current year shows Accounts Receivable $130,000, Sales Revenue $857,000, and Sales Returns and Allowances $27,000. Journalize the following independent situations. If Novak uses the direct write-off method to account for uncollectible accounts, journalize the adjusting entry at December 31, assuming Novak determines that L. Dole's $2,400 balance is uncollectible. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Account Titles and Explanation Credit Dec. 31 Date Debit SHOW LIST OF ACCOUNTS UNK TO TEXT If Allowance for Doubtful Accounts has a credit balance of $2,300 in the trial balance, Journalize the adjusting entry at December 31, assuming bad debts are expected to be 12% of accounts receivable. (Credit account titles are automatically indented when amount is entered, Do not indent manually.) Account Titles and Explanation Debit Credit Dec. 31 Date SHOW LIST OF ACCOUNTS LINK TO TEXT If Allowance for Doubtful Accounts has a debit balance of $260 in the trial balance, joumalize the adjusting entry at December 31, assuming bad debts are expected to be 7% of accounts receivable. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Date Credit Dec. 31 Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS LINK TO TEXT