QUESTION 1 2020 Net credit sales Estimate of doubtful debts Allowance account credit balance Gross Accounts receivable $ 100 000 2% of net credit sales $ 1.800 before the estimate was made $40,000 Required: Prepare the adjusting entry to record bad debts expense for 2020 using the percentage of sales method. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BIOS Paragraph Arial Nopt :v A TX V