Pride Inc. uses the allowance method to account for its uncollectable accounts receivable. The opening balances in Accounts receivable and Allowance for bad debt were $18,000 (debit) and $1,000 (credit) respectively. Pride Inc received payments on its Accounts receivable of $15,000, and wrote off $500 in accounts receivable during the year. Pride had credit sales of $50,000 for the period. a) Make the journal entry to record allowance for bad debt using the percentage-of-sales method b) Make the journal entry to record allowance for bad debt using the percentage of receivables method