Burke Electronics, Inc. reports the following balances at December 31, 2020: Accounts receivable $425,000 Allowance for doubtful accounts 2,500 (credit) Burke records bad debt expense using the percentage of receivables basis and concludes that 4% of its yearend accounts receivable will become uncollectible. Instructions 1. Prepare the adjusting entry to record bad debt expense for the year. 2. Prepare the adjusting entry for bad debt expense if the allowance had a debit balance of $1.500 BIA-A-I EX X, - PA