Required Calculate the amount for estimated bad debts assuming that doubtful accounts are estimated to be:12\% of gross accounts receivable. Calculate the amount for estimated bad debts assuming that doubtful accounts are estimated to be 3.5% of net sales Assume the Allowance for doubtful accounts had a debit balance of $10,485 instead of the credit balance and the company estimates doubtful accounts at 12% of gross accounts recelvable. Prepare the Journal enitry to record the stimated bad debt