Question 4 Vi belizogabaldo Spooky Hollow Inc.'s unadjusted trial balance included the following accounts and balances: Accounts receivable $280,000 debit Allowance for doubtful accounts $1.780 credit Sales $850,000 credit Sales returns and allowances $12,000 debit Required (8 marks): Prepare adjusting journal entries under each of the following independent situations assuming that the estimate of uncollectible accounts is determined by using: a) 3% of gross accounts receivable b) 1% of net sales