A QUESTION 7 2020 Net credit sales Estimate of doubtful debts Allowance account credit balance Gross Accounts receivable $100,000. 1% 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 method. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BIUS Paragraph V Arial + RBC v xXT < a V 10pt I 54 C