The Accounts Receivable balance for Knight Consulting is $1,400,000 as of March 31, 2023. Before calculating and recording the month's bad debt expense, there is a credit balance in the Allowance for Doubtful Accounts of $17,500. The March 2023 net sales were $19,000,000. In the past several years, 1% of net sales have proven uncollectible. An aging of accounts receivable results in a \$203,000 estimate for the Allowance for Doubtful Accounts as of March 31, 2023. PART A: PERCENT OF SALES METHOD Assume that Knight Consulting uses the percent of sales method to estimate future uncollectible accounts. - What adjusting entry does Knight make to record March 2023 Bad Debt Expense? - What is "Accounts Receivable, net" on Knight's March 31, 2023 Balance Sheet? \$ - What is "Bad Debt Expense" on Knight's March 2023 Income Statement? \$ PART B: ANALYSIS OF RECEIVABLES METHOD Assume that Knight Consulting instead uses the analysis of receivables method to estimate future uncollectible accounts. - What adjusting entry does Knight make to record March 2023 Bad Debt Expense? - What is "Accounts Receivable, net" on Knight's March 31, 2023 Balance Sheet? \$ - What is "Bad Debt Expense" on Knight's March 2023 Income Statement? \$