In 2019, Hummer Company is in its first year of operations. Total credit sales for the year were $1,000,000, and accounts receivable at the beginning of 2019 were $60,000. Beginning allowance for doubtful accounts is $40,000 cr. The company has determined that competitors usually experience a .025 uncollectable rate on credit sales, and Hummer uses this same percentage to estimate its bad debt expense. At end of 2020 Hummer identifies that one of its customers (currently owing $800) has filed for bankruptcy. Hummer does not expect to be able to collect any amount from this bankrupt customer, and decides to record a write-off. REQUIRED: (i) Calculate the balance of Bad debt expense account for 2019 Show all calculations Marks (ii) Prepare the journal entry to record the write-off for 2020 Account Db Cr Marks What will be the net balance (net of any allowance for doubtful accounts) of the company's accounts receivable at the end of 2019? Show calculations Marks