3. The following information was gathered to help prepare t he adjusting entry for Phoebe's Flower Shop for 2018. This financial information is before any of the bad debt expense adjustments. Debit Credit 135,000 Accounts Reccivable, 12/31/18 Allowance for Uncollectible Accounts, 12/31/18 Sales (all on credit)12/31/18 Sales Returns and Allowances, 12/31/18 1.750 428,000 10.500 Required (each situation is independent of the others): a. Prepare the appropriate journal entry to record the estimated bad debt expense for Phoebe's Flower Shop assuming bad debts are assumed to be 2.25% of net sales (income statement approach). b. Prepare the appropriate journal entry to record the estimated bad debt expense for Phoebe's Flower Shop assuming bad debts are assumed to be 3.5% of gross accounts receivable (balance sheet approach). c. Prepare the appropriate journal entry to record the estimated bad debt expense for Phoebe's Flower Shop assuming the same facts in part b except that Phoebe's Allowance for Uncollectible Accounts account has a debit balance of S1,350 d. Calculate the net realizable value in the Accounts Receivable assuming the same facts as in part c ate Account