View Policies -/20 E Current Attempt in Progress At December 31, 2024, Cullumber Industries reports the following selected accounts from the unadjusted trial balance for its first year of operations: Account Debit Credit Accounts payable $273,000 Accounts receivable $546,000 Cash 31,200 Cost of goods sold 1,365,000 Interest receivable 875 Interest revenue 1,750 Merchandise inventory 253,500 Notes receivable, due April 10, 2025 35,100 Prepaid insurance 6,240 Merchandise inventory 253,500 Notes receivable, due April 10, 2025 35,100 Prepaid insurance 6,240 Sales 3,490,500 Sales returns and allowances 78,000 Short-term investments 39,000 Unearned revenue 19,500 (a) Prepare the journal entry to record the bad debt expense on December 31, 2024, assuming the credit manager estimates that 45 of the accounts receivable will become uncollectible. (Credit account titles are automatically indented when the amount is entered. De not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List debit entry before Date Account Titles Debit Credit Dec. 31 (b) eTextbook and Media List of Accounts Save for Later Attempts: 0 of 2 used Submit Anm The parts of this question must be completed in order. This part will be available when you complete the part above