QUESTION 3 Valli Company uses the percentage of sales method for recording bad debts expense. For the year, cash sales are $70,000 and credit sales are $380,000. Management estimates that 8% is the sales percentage to use. Calculate the required adjustment to record bad debt expense for the year. QUESTION 4 Using the percentage-of-receivables method for recording bad debts expense, estimated uncollectible accounts are $37,000. The balance of the Allowance for Doubtful Accounts is $8,000 debit before adjustments. Calculate the bad debt expense for that period. QUESTION 5 20 Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save Al Answers Close Windo