Santana Rey, owner of Business Solutions, realizes that she needs to begin accounting for bad debts expense. Assume that Business Solutions has total revenues of $49,000 during the first three months of 2021 and that the Accounts Recelvable balance on March 31 , 2021, is $22,717. Required: 1a. Prepare the adjusting entry to record bad debts expense, which are estimated to be 1% of total revenues on March 31, 2021, There is a zero unadjusted balance in the Allowance for Doubtful Accounts at March 31 . 1b. Prepare the adjusting entry to record bad debts expense, which are estimated to be 2% of accounts receivable on March 31,2021 . There is a zero unadjusted balance in the Allowance for Doubtful Accounts at March 31 . 2. Assume that Business Solutions's Accounts Recelvable balance at June 30, 2021, is $21,250 and that one account of $82 has been written off against the Allowance for Doubtful Accounts since March 31, 2021. If Rey uses the method in part 16 , what adjusting journal entry is made to recognize bad dobts expense on June 30,2021 ? Prepare the adjusting entry to record bad debts expense, which are estimated to be 1% of total revenues on March 31 , 2021. There is a zero unadjusted balance in the Allowance for Doubtful Accounts at March 31. Journal entry worksheet Prepare the adfusting entry to record bad debts expense, which are estimated to be 2% of accounts receivable on March 31,2021 . There is a zero unadjusted balance in the Allowance for Doubtful Accounts at March 31. Note: Do not round intermediate calculations. Journal entry worksheet Assume that Business Solutions's Accounts Receivable balance at June 30,2021 , is $21,250 and that one account of $82 has been written off against the Allowance for Doubtful Accounts since March 31, 2021. If Rey uses the method in part 16 , what adjusting journal entry is made to recognize bad debts expense on June 30,2021 ? Note: Do not round intermediate calculations. Journal entry worksheet