7. 8 points A company ended the year with a debit balance of $200,000 in Accounts Receivable and a credit balance of $4,000 in its Allowance for Doubtful Accounts. During the year, the company recorded sales revenue of $3,000,000. Using the information above, prepare the year end journal entry needed in the following independent situations The company uses the net sales method for recording bad debts and estimates that 1.5 percent of sales will be uncollectible. The company uses the Accounts Receivable aging method for recording bad debts and management estimates that $40,000 of receivables will prove to be uncollectible. a. b