(Solved): The following represent different scenarios for Larkspur Company. Prior to any year-end adjusting ...

The following represent different scenarios for Larkspur Company. Prior to any year-end adjusting entries, Larkspur Company had a balance in Accounts Receivable of \( \$ 142,000 \). Credit sales during the period were \( \$ 790,000 \), and Sales Returns and Allowances were \( \$ 16,500 \). If Larkspur Company uses the allowance method to account for uncollectible accounts, journalize the entry if on May 8 Larkspur determined that Randal Company's \( \$ 620 \) balance is uncollectible. (List debit entry before credit entry. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)