McGraw-H Conne Dashbond Wilce.. Personel Course Home log in the Carme NT - CHS Help On December 31, 2020, Corotel Company's year end, the unadjusted trial balance included the following items $2.120.NO Accounts receivable Allowance for doubtful accounts Sales ($3,030,000 cash sales) $12,120,000 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, 2020, will become uncollectible