1. Assume the company uses 1% of credit sales to eatimate its bad debt expense for the year. Prepare the adjusting journal entry required at December 31,2021 , for recording bad debt expense: 2. Assume instead the company uses the aging of accounts receivable method and estimates that $1,100,000 of accounts receivable will be uncollectible. Prepare the adjusting journal entry required at December 31, 2021. for recording bad debt expense: 3. If one of the company's customers declares bankruptey in 2022, what journal entry would be prepared in 2022 to write off the customer's $27,000 balance? 4. The company loaned $2,400 to an employes on July 1, 2021. The employee signed a 3\% note, due in one year. Assuming the proper journal entry was made for the loan on July 1, prepare the adjusting journal entry required at December 31, 2021 for the accrued interest earned on the note. 5. Which account would decrease the company's Income from Operations? a. Bad Debt Expense b. Interest Revenue c. Allowance for Doubtful Accounts d. Accounts Receivable