Recording Bad Debt Estimate Using the Percentage of Credit Sales Method In 2016, Vandolay reported $300,000 in sales. The company s allowance for doubtful accounts has an unadjusted credit balance of $12, 000. Based on prior experience, management estimates that 2.5% of sales will result in bad debts. A) Prepare the required adjusting journal entry for the bad debt lestimate Computing Bad Debt expense using Aging of Accounts Receivable Method Total 0-30 30-60 60-90 Over 90 $262,000 $142,000 $40,000 $32,000 $48,000 Accounts Receivable Estimated uncollectible (%) Estimated uncollectible (S) S 20% 2% 4% 8% A) Using Vandolay's aging of receivables report above, fill in the blanks for the estimated uncollectible ($) amounts above. B) The company's allowance for doubtful accounts has an unadjusted credit balance of $12,000. Prepare the required adjusting journal entry