3) (15 points) At December 31 of the current year, a company Total sales for the current year: $980,000 includes $160,000 in cash sales. Accounts receivable balance at Dec. 31, end of current year: $160,000. Allowance for Doubtful Accounts balance at January 1, beginning of current year: $7,300 credit balance. Bad debts written off during the current year: $5,800. Prepare the necessary adjusting entries to record bad debts expense assuming this company's bad debts are estimated to equal 1.5% of credit sales: + DATE GENERAL JOURNAL DEBIT CREDIT What is the balance in the Allowance for Doubtful Accounts after all adjustments are made? States) Focus