Q2: Answer each of the following independent sections: A- The records od ABC Company on Dec.31st, 2020 shows Accounts Receivable $300,000, Sales $2,400,000, and Sales Returns and Allowances $150,000. Instructions: (a) Using the direct write off method to account for uncollectible accounts, journalize the adjusting entry at December 31, assuming ABC determines that Baraka Company's $3,400 balance is uncollectible. (b) If ABC uses the allowance method. Assuming the Allowance for Doubtful Accounts has a credit balance of $4,500 in the trial balance, journalize the adjusting entry at December 31, assuming bad debts are expected to be (1) 2% of net sales, and (2) 15% of accounts receivable. (c) IF ABC company uses the allowance method. Assuming the Allowance for Doubtful Accounts has a debit balance of $470 in the trial balance, journalize the adjusting entry at December 31, assuming bad debts are expected to be (1) 0.8% of net sales and (2) 8% of accounts receivable. (d) Which method is required by the accounting principles? why? [7 Marks) (a) Which method is required by the accounting principles? why? [7 Marks]