Matriarch Co. completed the following selected transactions during 2019 and 2020: i (Click the icon to view the transactions.) Required Transactions Dec. 31: Estimated that bad debt expense for the year was 5 per Dec. 31 Estimated that bad debt expense for the year was 5 percent of credit sales of $384,500 and recorded that amount as expense. Date Accounts and Explanation 31 Made the closing entry for bad debt expense. 2019 Dec. 31 (Adj.) Help me solve this Calculator Ask my ins 2020 Mar. 26 Sold inventory to Melinda Monet, $10,200.00, on credit terms of 2/10, n/30. Ignore cost of goods sold. Sep. 15 Wrote off Melinda Monet's account as uncollectible after repeated efforts to collect from her. Nov. Dec. Dec. 10 Received $5,350 from Monet, along with a letter stating her intention to pay her debt in full within 30 days. Reinstated her account in full. 5 Received the balance due from Monet. 31 Made a compound entry to write off the following accounts as uncollectible: Bill Kappy, $1,700; Mo Vanez, $910.00; and Raymond Jones, $10,250. 31 Estimated that bad debt expense for the year was 3 percent of credit sales of $840,000 and recorded the expense. 31 Made the closing entry for the bad debt expense.