5) A company had the following items and amounts in its unadjusted trial balance as of December 31 of the current year Debit Credit 88,000 275,000 Cash sales. Credit sales Accounts receivatb.. Allowance for doubtful account.s. .S96,000 1.000 Prepare the adjusting entry to estimate bad debts under each of the following separate 1. Bad debts are estimated to be 2.5% of credit sales. 2. An aging analysis estimates that 8% of the outstanding accounts receivable will be situations. uncollectible