5-3B -Percentage of Sales Method Nethery Co. shows the following account balances on October 31, 2024, its fiscal year-end. Credit Debit $41,000 Account Accounts receivable Allowance for doubtful accounts Sales ($60,000 cash sales) $300 430,000 The company's accountant estimates bad debts to be 3.5% of credit sales. Required: a.) Prepare the adjustment to allowance for doubtful accounts based on the information above. b.) Show how accounts receivable, net would be disclosed on the balance sheet