Prepare the adjusting journal entry at December 31 to record credit losses, assuming that the allowance account has a debit balance of $4,940 before adjustment. (List debit entry before credit entry. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Dec. 31 Allowance for Expected Credit Losses eTextbook and Media Debit 25620 Credit 25620

Prepare the adjusting journal entry at December 31 to record credit losses, assuming that the allowance account has a debit balance of $4,940 before adjustment. (List debit entry before credit entry. Credit account titles are outomatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)