Compute bad debt expense for each year using: (a) the percent of sales method assuming 1%...

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Compute bad debt expense for each year using: (a) the percent of sales method assuming 1% of net credit sales are uncollectible; and (b) the percent of accounts receivable method assuming 10% of accounts receivable are uncollectible. Using the percent of sales method, bad debt expense for 2020 is? Data FYE 12/31/2018 FYE 12/31/2019 FYE 12/31/2020 Sales (all on account) $2,000,000 $4,000,000 $6,000,000 Sales Discounts None None $200,000 Accounts Receivable $200,000 $400,000 $600,000 Allowance for $10,000 $10,000 $0 Doubtful Accounts Credit Debit $58,000 O $60,000 $50,000 O Zero $70,000 Compute bad debt expense for each year using: (a) the percent of sales method assuming 1% of net credit sales are uncollectible; and (b) the percent of accounts receivable method assuming 10% of accounts receivable are uncollectible. Using the percent of sales method, bad debt expense for 2020 is? Data FYE 12/31/2018 FYE 12/31/2019 FYE 12/31/2020 Sales (all on account) $2,000,000 $4,000,000 $6,000,000 Sales Discounts None None $200,000 Accounts Receivable $200,000 $400,000 $600,000 Allowance for $10,000 $10,000 $0 Doubtful Accounts Credit Debit $58,000 O $60,000 $50,000 O Zero $70,000