heducation.com ring the current Year, Bob's Ceramics Shop had sales revenue of $154,000, ot which $71,000 was on credit. At the Data during the current year follows a. on December 31, an Account Rece Du tart of the curmrent year, Accounts Recelvable showed a $19,000 debit Accounts showed a $1 800 credit balance. Collections of accounts recelvable during the current year amounted to $57,000 ivable (Toby's Gift Shop) of $1.200 from a prior year was determined to be uncollectible; therefore, t was written off immediately as a bad deblt. basis of experience, a decision was made to continue the accounting policy of basing estimated bad debt losses on 2.0 percent of credit sales for the year. Required 1. Prepare the required journal entries for the two items on December 31, end of the accounting period rno entry s required for a transacticnievent, select "No journal entry required" In the first account fled.) View transaction list Journal entry worksheet on December 31, an Account Receivable (Toby's Gift Shop) of 1,200 from a prior year was determined to be uncollectible; therefore, it was written off immediately as a bad debt. Note: Enter debits before credits Date General Journal ebiti Credit December 31 View general journal Clear entry Record entry MacBook Pro