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nstructions Kandel Company had the following data available for 2016 (before making any adjustments: Accounts receivable, 12/31/16 $320,100 (Dr.) Allow ance for doubtful a 2,600 (Cr Net aredit sales, 2016 834,000 (Cr Required 1. Prepare the joumal entry to recognize bad debts under the folowing assumptions (a bad debts expense is expected to be 2% of net credit sales for the year and (b) Kandel expects will not be able to collect 6% of the balance in accounts recevable a year-end. 2. Assume instead that the balance in the allowance account is a 52,600 debit. How wil this affect your answers to part (1)