Question 1: Accounts Receivable (15 marks) Marvelos Inc. made credit sales of $1,000,000 in year 2020, and wrote off $10,000 accounts receivable because of customer default. At the end of 2020, the company estimated its bad debt expense to be 1.5% of the credit sales. Required: 1. Provide the journal entry to record the credit sales. 2. Provide the journal entry to record the write-off. 3. Provide the journal entry to record the bad debt expense. 4. The allowance for doubtful accounts had a balance of $40,000 at the beginning of 2020. Determine the balance in the allowance for doubtful accounts at the end of 2020