Olson Company had a $1,000 balance in Allowance for Doubtful at December before the current years Accounts receivable revealed the provision for uncollectible accounts. An aging of the accounts following: Instructions (a) Prepare the adjusting entry on December 31, 2016, to recognize bad debt expense. (b) Assume the same facts as above except that the Allowance for Doubtful Accounts account had a $500 debit balance before the current year's provision for uncollectible accounts. Prepare the adjusting entry for the current year's provision for uncollectible accounts. (c) Assume that the company has a policy of providing for bad debts at the rate of 1% of sales, the sales for 2016 were $550,000, and that Allowance for Doubtful Accounts had a $650 credit before adjustment. Prepare the adjusting entry for the current year's provision for bad debts