Prior to recording the adjusting entry for bad debt expense for the year, the general ledger reflected the following information: Sales 5 2,600,000 Sales Discounts 5 12,000 Account Receivable (@ 12/31) 420,000 Sales Returns & Allowances 44,000 Allowance for Doubtful Accounts (1,450) (De bit) Required: a. Prepare the adjusting entry for bad debt expense, assuming it is based on 1.8% of net sales. b. Prepare the adjusting entry for bad debt expense assuing it is based on 3%% of the ending account receivable