During the year, Luke's Hobbies had the following: Net Sales Cash Sale Credit Sales $422.000 111.000 Collection on Credit sales Beginning Accounts Receivable Ending Accounts Receivable 300,000 54,000 Allowance for Doubtful Accounts 2,700 Credit 1. Experience suggests that bad debts will amount to 2.7% of credit sale. The company uses the percent-of-sales allowance method to account for uncollectibles. Journalize the Bad Debt Expense. 2. Assume the same facts as in #1 except Luke's Hobbies uses the percent-of-receivable method. Experience suggests that the uncollectible accounts will amount to 4.9% of accounts receivable. Journalize the adjustment to record the bad debt expense. Record pro ervices b er 31. Round to