Due 11/21/2021 June 30 July 1 Sep 30 Dec 31 Estimated that Bad Debts Expense for the year was 1% of net credit sales of $300,000. Wrote off the following Accounts Receivables; James for $500, Smythe for $1,000 and Smithson for $400. Estimated Allowance for Bad Debts is .5% of Accounts Receivables of $280,000 An aging schedule reveals that Allowance for Bad Debts should have a balance of $3,200 as of Dec 31. Journalize above transactions Journal Date Account Debit Credit Accounts Receivable Allowance for Bad Debts Net Accounts Receivable