ten went wit Mave this response Question 8 Al Bakara company report the following results for its calendar year December 31,2021 3 paints S Cash sales Credit sales Account receivable Account payable Allowances for doubtful accounts 310,000 220,000 44.000 (debit) 78.000 (credit) 7,000 (debit) The company bad debts estimated to be 2% of annual total sale. Required: 1- Prepare the adjusting entry to record the estimated bad debt. Answer in the following format [Note: This is just an example and is not related to the question] Jan 1 Dr. Cash 120 Cr. Owner capital 120 2- Show how Accounts Receivable and the Allowance for Doubtful Accounts appear on Al Bakara company December 31 balance sheet.