Question 38 1 pts Prepare a year-end adjusting journal entry as of December 31st for Clayco Company 38. Assume that bad debts are estimated using the percent of sales method. The Allowance for Doubtful Accounts had a $1.000 debit balance before the adjustment, and the company estimates bad debts to be 1% of its credit sales of $2,000,000 Edit View Insert Format Tools Table 12ptParagraph B I ALTHY OPDA words