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S8-7 (similar to) The Accounts Receivable balance for North​, Inc. at December​ 31, 2017​, was $...

S8-7 (similar to) The Accounts Receivable balance for North​, Inc. at December​ 31, 2017​, was $ 30,000. During 2018​, North earned revenue of $ 459,000 on account and collected $ 327,000 on account. North wrote off $ 6,300 receivables as uncollectible. Industry experience suggests that uncollectible accounts will amount to 4​% of accounts receivable. Requirements: 1. Assume North had an unadjusted $ 2,800 credit balance in Allowance for Bad Debts at December ​31, 2018. Journalize North​'s December ​31, 2018, adjustment to record bad debts expense using the​ percent-of-receivables method. 2.Assume North had an unadjusted $ 2,200 debit balance in Allowance for Bad Debts at December ​31, 2018. Journalize North​'s December ​31, 2018, adjustment to record bad debts expense using the​ percent-of-receivables method.

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