Prepare the adjusting entry to estimate uncollectible accounts on December 31, 2019, under each of the following independent assumptions: You must show and hand in all your calculations and work a. Bad debts are estimated to be 0.5% of credit sales b. Bad debts are estimated to be 5% of outstanding accounts receivable C. Bad debts are based on an aging analysis QUESTION 3 Please read these transactions and provide the appropriate journal entries: a On January 1, 2019. Kanta Ben Company receives $1,000, 90 day, 5% promissory note at the time of sale. Please provide the journal entry to record this transaction b. In 2019 January has 31 days, February has 28 days and March has 31 days. On March 30, 2019, Kanta Ben Company receives payment in full of the S1,000, 90 day, 5% promissory note singed on January 1, 2019 above. Kanta Ben Company has a December 31 year end Provide the journal entry for this transaction Prepare the adjusting entry to estimate uncollectible accounts on December 31, 2019, under each of the following independent assumptions: You must show and hand in all your calculations and work a. Bad debts are estimated to be 0.5% of credit sales b. Bad debts are estimated to be 5% of outstanding accounts receivable C. Bad debts are based on an aging analysis QUESTION 3 Please read these transactions and provide the appropriate journal entries: a On January 1, 2019. Kanta Ben Company receives $1,000, 90 day, 5% promissory note at the time of sale. Please provide the journal entry to record this transaction b. In 2019 January has 31 days, February has 28 days and March has 31 days. On March 30, 2019, Kanta Ben Company receives payment in full of the S1,000, 90 day, 5% promissory note singed on January 1, 2019 above. Kanta Ben Company has a December 31 year end Provide the journal entry for this transaction