QUESTION 7 The following selected amounts are reported on the year-end unadjusted trial balance report for a company that uses the percent of sales method to determine its bad debts expense. 5 435, Debit Accounts receivable Allowance for Doubtful Accounts Net Sales 1. Debit 2,100,0 Credit All sales are made on credit. Based on past experience, the company estimates 19 of credit sales to be uncollectible. What adjusting entry should the company make at the end of the current year to record its estimated bad debes expense? Debit Bad Debts Expense 519.750; credit Allowance for Doubtful Accounts $19,750331332333 Debit Bad Debts Expense 515,225 credit Allowance for Doubtful Accounts $15.225.000 Debit Bad Debts Expense 522,250;credit Allowance for Doubtful Accounts $22.250 Debit Bad Debts Expense 57,350; credit Allowance for Doubtful Accounts $7.350. Debit Bed Debts Expense $21,000, credit Allowance for Doubtful Accounts $21,000. APRIL 2323333333