The account balances of Cullumber Company at December 31, 2021, the end of the current year, show Accounts Receivable $223,200; Allowance for Doubtful Accounts $2,700 (credit); Sales $1,748,800; Sales Returns and Allowances $50,000; and Sales Discounts $24,800. Collapse question part (a) Record the adjusting entry at December 31, 2021, assuming bad debts are estimated to be (1) 10% of accounts receivable, and (2) 1.5% of net sales. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.).