Journal ize the following transactions Year 2020 May 1 Lee company sold inventory worth $2000 for $2500 to John for credit May 20 John limited sold goods for $4500. The inventory was estimated to be $3800 May 12 Lee company estimate bad debt to be $150 May 31. John estimated that 30% of the account receivable mentioned above will be bad debt June 2. 20% of John's bad debt has been paid @ this date