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Qe of 15 N Question 1 Sama company has the following unadjusted account balances at December 31, 2021; Total Sales of $720,000. Accounts Recervatie of

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Qe of 15 N Question 1 Sama company has the following unadjusted account balances at December 31, 2021; Total Sales of $720,000. Accounts Recervatie of $205,000 and the allowance was estimated as 3.5% of the total Account Receivable. The Allowance for Doubtful Accounts had a credit balance of $2.400 before the estimate was made Required: Prepare the adjusting journal entry to record bad debts expense for 2021. Answer in the following format (Note: This is just an example and is not related to the question) Jan 1 Dr. Cash 120 Cr. Owner capital 120 D

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