Part II: Accounts Receivable (10 points) A. Moto Cross Company uses the Percentage of Credit Sales Revenue Method to estimate bad debts expense. In 2018, the company had $700,000 in cash sales revenue and $1,800,000 of credit sales revenue. It estimates Bad Debt Expense as 8% of credit sales revenue. Please show the necessary adjusting journal entry at year-end, December 31, 2018. Please show your calculations. B. Speedy Bicycle Company uses the Aging of Accounts Receivable Method to estimate bad debts expense. Speedy has this aging schedule at the end of 2018. You can use this table or prepare your own table. Category Balance Estimated Amount Uncollectible $300,000 225,000 60,000 65,000 $650,000 Estimated Percentage Uncollectible 2% 4% 5% 10% 0-30 days 31-60 days 61-90 days Over 90 days Estimated Ending Balance in Allowance For Doubtful Accounts Speedy already has a $15,000 credit balance in the Allowance for Doubtful Accounts. Please show the necessary adjusting journal entry at year-end, December 31, 2018