i On December 31, 2023, Corotel Company's year-end, the unadjusted trial balance included the following items: Account Accounts receivable Allowance for doubtful accounts Sales ($3,750,000 cash sales) Saved Debit $2,200,000 43,000 Credit $15,000,000 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, 2023, will become uncollectible.

On December 31, 2023, Corotel Company's year-end, the unadjusted trial balance included the following items: 1. Prepare the adjusting entry needed in Corotel's books to recognize bad debts under each of the following independent Required: assumptions a. Bad debts are estimated to be 2% of credit sales b. An analysis suggests that 5% of outstanding accounts receivable on December 31,2023 , wili become uncollectible