Patterson Co. had a credit balance of $1,000 in its Allowance for Doubtful Accounts on Dec. 31,2018. Their net sales for the year totaled $700,000. If they estimate that their uncollectible accounts for the year will be 3% of net sales, their year end adjusting entry for Bad Debts would be: Debit Bad Debts Expense & credit Allowance for Doubtful Accounts for $21,000. Debit Bad Debts Expense & credit Allowance for Doubtful Accounts for $210,000. Debit Bad Debts Expense & credit Allowance for Doubtful Accounts for $2,100. Debit Bad Debts Expense & credit Accounts Receivable for $5,000. Patterson Co. had a credit balance of $1,000 in its Allowance for Doubtful Accounts on Dec. 31,2018. Their Accounts Receivable account has a balance of $250,000 before adjusting for uncollectible accounts. If they estimate that 10% of Receivables are uncollectible, their year end adjusting entry for Bad Debts would be: Debit Bad Debt Expense and credit Allowance for Doubtful accounts for $25,000. Debit Bad Debt Expense and credit Allowance for Doubtful accounts for $250,000. Debit Bad Debt Expense and credit Allowance for Doubtful accounts for $24,000. O Debit Bad Debt Expense and credit Allowance for Doubtful accounts for $26,000. Patterson Co. had a debit balance of $1,000 in its Allowance for Doubtful Accounts on Dec. 31,2018. Their Accounts Receivable account has a balance of $250,000 before adjusting for uncollectible accounts. If they estimate that 10% of Receivables are uncollectible, their year end adjusting entry for Bad Debts would be: O Debit Bad Debts Expense and credit Allowance for Doubtful Accounts for $25,000. Debit Bad Debts Expense and credit Allowance for Doubtful Accounts for $250,000. Debit Bad Debts Expense and credit Allowance for Doubtful Accounts for $24,000. O Debit Bad Debts Expense and credit Allowance for Doubtful Accounts for $26,000