O pts Question 1 Wellington Corp. has outstanding accounts receivable totaling $6.5 million as of December 31, 2020 and sales on credit during the year of $ 24 million. There is also a credit balance of $12,000 in the allowance for doubtful accounts. If the company estimates that 6% of its outstanding receivables will be uncollectible, what will be the amount of bad debt expense recognized for the year? Journalize the entry to record the bad debt expense after you compute the bad debt expense) What is the value of net accounts receivable that will appear on the balance sheet of the company on 12/31/2020