The information that follows was extracted from the financial records of a company. Unless otherwise indicated,...

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The information that follows was extracted from the financial records of a company. Unless otherwise indicated, all accounts have normal balances. December 31 balance: 300,000 22,000 1,200,000 Pice Index Accounts Receivable Allowance for Bad Debts Sales Revenue Using the information provided, answer each of the following, independent questions: 121 Prepare the journal entry to record bad debts, assuming that management has estimated that $54,000 of Accounts Receivable will be uncollectible. a. Prepare the journal entry to record bad debts, assuming that management has estimated that $54,000 of Accounts Receivable will be uncollectible and that the Allowance for Bad Debts reported above has an abnormal balance of $22,000. b. The information that follows was extracted from the financial records of a company. Unless otherwise indicated, all accounts have normal balances. December 31 balance: 300,000 22,000 1,200,000 Pice Index Accounts Receivable Allowance for Bad Debts Sales Revenue Using the information provided, answer each of the following, independent questions: 121 Prepare the journal entry to record bad debts, assuming that management has estimated that $54,000 of Accounts Receivable will be uncollectible. a. Prepare the journal entry to record bad debts, assuming that management has estimated that $54,000 of Accounts Receivable will be uncollectible and that the Allowance for Bad Debts reported above has an abnormal balance of $22,000. b.

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