Assume that part of accounts and other receivables on Thompson Toys balance sheet is $16 million

Assume that part of accounts and other receivables on Thompson Toys balance sheet is $16 million of accounts receivable and that Thompson estimates its uncollectible accounts as 2 percent of all accounts receivable. Record the adjusting entry to recognize uncollectible accounts if the Allowance for Uncollectible Accounts has a balance of:

a.$104,000 credit

b. $46,000 debit