2018 Estimated that bad debts expense for the year was 3% of credit sales of $460,000 and recorded that amount as expense. The company uses the allowance method. Made the closing entry for bad debts expense. Dec. 31 31 Jan. 17 Jun. 29 Aug. 6 Dec. 31 31 31 2019 Sold merchandise inventory to Mark Johnson, $800, on account. Ignore Cost of Goods Sold. Wrote off Mark Johnson's account as uncollectible after repeated efforts to collect from him. Received $800 from Mark Johnson, along with a letter apologizing for being so late. Reinstated Johnson's account in full and recorded the cash receipt. Made a compound entry to write off the following accounts as uncollectible: Billy Krupp, $1,900; Marilyn Lee, $1,500; and Raymond Jones, $100. Estimated that bad debts expense for the year was 3% on credit sales of $450,000 and recorded the expense. Made the closing entry for bad debts expense