6 2020 Net credit sales Estimate of doubtful debts Gross Accounts receivable Allowance account credit balance $100,000. 2% of net credit sales $1,800 before the estimate was made $40,000. Required: Prepare the adjusting entry to record bad debts expense for 2020 using the percentage of sales meth For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). QUESTION 1 Hazards company had the following data: Beginning inventory (on May 1) Purchases during May Cost of goods sold during May $380 $5,400 $5,740 Based on the above data, calculate ending inventory as of May 30: O $340 O $5,740 $40 O $380