At December 31 of the current year, a company reported the following: Total sales for the current year: $980,000 includes $160,000 in cash sales Accounts receivable balance at Dec. 31, end of current year: $160.000 Allowance for Doubtful Accounts balance at January 1, beginning of current year: $7,300 Bad debts written off during the current year: $5,800. Prepare the necessary adjusting entry to record bad debts expense assuming this company's bad debts are estimated to equal 5% of accounts receivable. Prepare a table for the journal entry and show your work for partial credit. Prepare the necessary adjusting entries to record bad debts expense assuming this company's bad debts are estimated to equal 1.5% of credit sales: Prepare a table for the journal entry and show your work for partial credit