QUESTION 30 Drew Corp had a beginning balance on January 1, 2019 in Accounts Receivable of $200,000 and a beginning credit balance in the Allowance for Doubtful Accounts of $4,000. During 2019, Drew sold $1,000,000 of goods on credit and collected $800,000. If Drew estimates that 2% of their ending accounts receivable will eventually not be collected, the adjusting journal entry for the Bad Debt Expense will include a credit to Allowance for Doubtful Accounts of A. $ 6,980 B. none of the listed choices C. $ 16,000 D. $ 8,000 E. $4,000 QUESTION 31 Still on Drew, everything is the same except during the year, the company wrote of $2,000 in bad debts. Drew's ending balance in the allowance for doubtful accounts, under this scenario, would be: A. $ 7,960 B. $ 4,000 C. $ 16,000 D. none of the listed choices E. $ 6,960