NATO Companys ledger at the end of 2020 shows net credit sales of $980,000 and accounts receivable $5,000,000. a. If Allowance for Doubtful Accounts has a debit balance of $5,500 in the trial balance and bad debts are expected to be 4% of net credit sales, journalize the adjusting entry for the end of the period. b. If Allowance for Doubtful Accounts has a credit balance of $7,500 in the trial balance and bad debts are expected to be 9% of accounts receivable, journalize the adjusting entry for the end of the period.

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