Question 3 (10 points) At December 31 of the current year, Yakko company reported the following Total sales for the current year: 950.000 Total Sales 125.000 Cash Sales Accounts receivable balance at Dec. 31, current year: 280,000 Bad debts written off during the current year: 5.200 Balance of Allowmce for Doubtful Accounts at January 1, Current year. 7.200 Prepare the necessary adjusting entries to record bad debts expense assuming this company's bad debts are estimated to equals ta) 15% of credit sales (b) 59 of accounts receivable