Gamecock Companys accounting records show the following information for 2020:

Cash sales	$700,000
Net credit sales	2,400,000
Accounts receivable (12/31/2020)	100,000
Allowance for doubtful accounts (12/31/2020, prior to adjustment)	1,300	(debit)

	Prepare the adjusting entry that would be required under each of the following methods:
1.	Bad debts are estimated at 4% of net credit sales.
2.	Bad debts are estimated at 7% of accounts receivable.
3.	An aging of accounts receivable indicates that half of the outstanding accounts will incur a 1% loss, a quarter will incur a 8% loss, the remaining quarter will incur a 30% loss.