QUESTION 2: Financial data of John's Tiles Co. for the year 2020: a. The gross receivable is 23,000 and the allowance for bad debts is 30,000 b. The gross sales is 2,880,000 sales discount of 140,000 and sales returns of 90,000 The gross purchases is 2,300,000 and purchase discount of 450,000 and purchase returns of 50,000. 1. If John's Tiles co. estimates uncollectible account based at 7% of the net receivable, what is the adjusting journal entries on Dec 31, 2020. c. DR: 2 CR: 2 Amount? Amount? 2. If John's Co. estimates uncollectible account based at 5% of gross receivable, what is the adjusting journal entries on Dec 31, 2020. DR: ? CR: ? Amount? Amount? 3. If John's Tiles co. estimates uncollectible account based at 7% of the net sales, what is the adjusting journal entries on Dec. 31, 2020. DR: ? CR: ? Amount? Amount? 4. If John's Co. estimates uncollectible account based at 5% of gross sales, what is the adjusting journal entries on Dec 31, 2020. Choices: Accumulated depreciation equipment Allowance for doubtful accounts Accounts receivable Bad debts Depreciation expense Equipment