Question 8 Log out Not yet answered Marked out of 5.00 P Flag question At December 31 of the current year, a company reported the following: Total credit sales for the current year: $620,000 Accounts receivable balance at December 31 of the current year: $190,000. Balance of Allowance for Doubtful Accounts credit balance at December 31: $8,300. Prepare the necessary adjusting entry to record bad debt expense assuming this company's bad debts are estimated to equal 1.5% of credit sales. 7 AB 9. 1 A - B I U - IEEE