Bad Debt Expense - 20 minutes - 10 marks On December 31", 2020, Winterfell Corporation had the following account balances before adjustments: Debit Credit Accounts Receivable 325,000 Allowance for Doubtful Accounts 1.250 Credit Sales 1,645.000 Required 1. Assume that uncollectible accounts are estimated to be 5% of accounts receivables. Prepare the necessary adjusting entry with December 31, 2020 as the entry date. Following the adjusting entry, what is the total that will appear on the Balance Sheet for Allowance for Doubtful Account? 2. Assume that uncollectible accounts are estimated to be 2% of credit sales. Prepare the necessary adjusting entry with December 31, 2020 as the entry date. Following the adjusting entry, what is the total that will appear on the Balance Sheet for Allowance for Doubtful Account