m Course: GE001 -Str... Student Email Spe.. APA Style Grammarly: Free O... G the bluebook of ge... New Tabs The Giver - Literatu Er 8 Problem (Day 16) Savod Help On December 31, 2020, Corotel Company's year-end, the unadjusted trial balance included the following items Credit Account Accounts receivable Allowance for doubtful accounts Sales (53,570,000 cash sales) Debit $2,180,000 41,000 $14, 288,888 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 be 2% of credit sales b. An analysis suggests tha 5% of outstanding accounts receivable on December 31, 2020, will become uncollectible. View transaction list Journal entry worksheet 1 2 > Record the estimate for uncollectible accounts. Rres 1 of 1 BE Next to search o * Saved ter 8 Problem (Day 16) 0 View transaction list 1 Journal entry worksheet 1 2 > Record the estimate for uncollectible accounts. Note: Enter debits before credits Transaction General Journal Debit Credit Dec 31 Record entry Clear entry View general Journal PS 1 of 1 Next View transaction list Journal entry worksheet Record the estimate for uncollectible accounts. Note: Enter debits before credits. Transaction General Journal Debit Credit Dec 31 Record entry Clear entry View general journal De 1 of 1 Next