Net Sales + R 3 (of 20) You did not receive full credit for this question in a During the current Year, Bob's Ceramics Shop had sales revenue of $159,000, of which $84,000 was on credit. At the start of the current year, Accounts Receivable showed a $25,000 debit balance, and the Allowance for Doubtful Accounts showed a $1,400 credit balance. Collections of accounts receivable during the current year amounted to $53,000 Data during the current year follows: a On December 31, an Account Receivable (Toby's Gift Shop) of $1,000 from a prior year was determined to be uncollectible, therefore, it was written off immediately as a bad debt b. On December 31, on the basis of experience, a decision was made to continue the accounting polcy of basing estimated bad debt losses on 3 0 percent of credit sales for the yea 1. Prepare the required journal entries for the two tems on December 31, end of the accounting period (If no entry is required for a transactionievent, select "No journal entry required" in the first account field.) ournal entry worksheet On 31, an Account Receivable ( Toby's Gift Shop) of $1,000 from a