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ACCT 230 Sections 1-4 Homework: Accounts Receivable Score: 0 of 1 pt S8-7 (similar to) Sa 8 of 9 (3 complete) HW Score: 33.33%, 3 of Question Help ! The Accounts Receivable balance for Wedge, Inc. at December 31, 2017, was $26,000. During 2018, Wedge earned revenue of $457,000 on account and collected $326.000 on account. Wedge wrote off $6,300 receivables as uncollectible. Industry experience suggests that uncollectible accounts will amount to 3% of accounts receivable. Read the requirements Requirement 1. Assume Wedge had an unadjusted S2,000 credit balance in Allowance for Bad Debts at December 31, 2018. Journalize Wedge's December 31, 2018, adjustment to record bad debts expense using the percent-of-receivables method. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Dec. 31 Requirements Assume Wedge had an unadjusted $2,000 credit balance in Allowance for Bad Debts at December 31, 2018 Journalize Wedge's December 31, 2018, adjustment to record bad debts expense using the percent-of-receivables Assume Wedge had an unadjusted $1,600 debit balance in Allowance for Bad Debts at December 31. 2018. Journalize Wedge's December 31, 2018 adjustment to record bad debts expense using the percent-of-receiva 1. method 2. bles method s Fina Print Done 146 PM 10/16/20186

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