Check trial balance as of February 28, 2019. Debits $ 985,750 Credits Accounts Receivable Allowance for Doubtful Accounts Sales and Service Revenue $ 4,700 3,700,000 Required: 1. Assume JP Samuel uses of 1 percent of revenue to estimate its bad debt expense for the year. Prepare the adjusting journal entry required at February 28 for recording Bad Debt Expense. 2. Assume instead that JP Samuel uses the aging of accounts receivable method and estimates that $5,400 (thousand) of Accounts Receivable will be uncollectible. Prepare the adjusting journal entry required at February 28 for recording bad debt expense. TIP: The aging of accounts receivable method focuses on calculating what the adjusted Allowance for Doubtful Accounts balance should be. You need to consider the existing balance when determining the adjustment. 3. Assume that the unadjusted balance in JP Samuel's Allowance for Doubtful Accounts at February 28 was a debit balance of $1,080 (thousand). JP Samuel uses the aging of accounts receivable method and estimates that $5,400 (thousand) of Accounts Receivable will be uncollectible. Prepare the adjusting journal entry required at February 28 for recording bad debt expense. 4. If one of JP Samuel's customers declared bankruptcy, what journal entry would be used to write off its $540 (thousand) balance