Dr. P2. The trial balance before adjustment for ABC co. reports the following balances Cr. + Accounts receivable $350,000 Allowance for doubtful accounts $500 Sales (all on credit) $2,180,000+ Sales returns and allowance $150,000+ Sales discount $30,000 Instructions: Prepare the journal entries for bad debt expense assuming the uncollectible amount be 1) 1% of gross account receivable and 2) 0.2% of net sales