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The December 31, 2021, balance sheet of the Nash's Trading Post, LLC had Accounts Receivable of $650,000 and a credit balance in Allowance for Doubtful Accounts of $30,000. During 2022, 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.

Journalize the 2022 transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Enter an account title to record sales on account Enter a debit amount Enter a credit amount Enter an account title to record sales on account Enter a debit amount Enter a credit amount (To record credit sales) Enter an account title to record merchandise returned Enter a debit amount Enter a credit amount Enter an account title to record merchandise returned Enter a debit amount Enter a credit amount (To record credits to customers) Enter an account title to record collection of receivables Enter a debit amount Enter a credit amount Enter an account title to record collection of receivables Enter a debit amount Enter a credit amount (To record collection of receivables) Enter an account title to write-off specific accounts Enter a debit amount Enter a credit amount Enter an account title to write-off specific accounts Enter a debit amount Enter a credit amount (To write off specific accounts) Enter an account title to reverse write-off of account Enter a debit amount Enter a credit amount Enter an account title to reverse write-off of account Enter a debit amount Enter a credit amount (To reverse write-off of account) Enter an account title to record collection of account Enter a debit amount Enter a credit amount Enter an account title to record collection of account Enter a debit amount Enter a credit amount (To record collection of account) SHOW LIST OF ACCOUNTS LINK TO TEXT

If the company uses the percentage of receivables basis to estimate bad debt expense and determines that uncollectible accounts are expected to be 6% of accounts receivable, what is the adjusting entry at December 31, 2022? (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31 Enter an account title to record the adjusting entry on December 31 Enter a debit amount Enter a credit amount Enter an account title to record the adjusting entry on December 31 Enter a debit amount Enter a credit amount

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