Question 1 (6 marks). During 2019, a corporation recorded sales as follows: Cash sales, $300,000, and credit sales, $300,000. At December 31, 2019, before the adjusting entries, Accounts receivable showed a debit balance of $180,000 and Allowance for Doubtful Accounts showed a credit balance of $1,200. Required: (a) Assuming an amount previously provided for of $4,500 is to be written off, give the journal entry on December 31, 2019. (b) Give the adjusting entry for bad debt expense at December 31, 2019, assuming instead that bad debt losses are estimated to be 4 percent of the balance in the Accounts receivable account. Recall that the Receivable balance and the Allowance for Doubtful Accounts balance above is prior to adjusting entries so you should take transaction (a) into account. General Journal Date Account Titles and Explanation Debit Credit a) b)