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On December 31, 2020, Corotel Company's year-end, the unadjusted trial balance included the following items: Account Debit Credit Accounts receivable $2,12e, eee Allowance for doubtful accounts 35,eee Sales ($3,030,000 cash sales) $12,120,000 Required: 1. Prepare the adjusting entry needed in Corotel's books to recognize bad debts under each of the following independent assumptions a. Bad debts are estimated to be 2% of credit sales b. An analysis suggests that 5% of outstanding accounts receivable on December 31, 2020, will become uncollectible View transaction ist Journal entry worksheet 1 2 Record the estimate for uncollectible accounts. ut debitore credits View transaction list Journal entry worksheet 1 2 Record the estimate for uncollectible accounts. Note: Enter debits before credits Transaction General Journal Debit Credit Dec 31 Reg View general journal entry Clear entry View transaction list Journal entry worksheet