The following are the selected balances which have been taken from the unadjusted trial balance of a trading company for the year ended Dec. 31, 2020: Accounts Receivable Allowance for Bad Debt (Debit Balance) Sales (All on credit) Sales Return and Allowance Rs. 400,000 5,000 800,000 25,000 Required: a. Record and close bad debt expense for the year ended Dec. 31, 2020 assuming that allowance for bad debt was estimated @ 5% of Accounts Receivable. b. Record and close bad debt expense for the year ended Dec. 31, 2020 assuming that bad debt expense was estimated @ 1% of net credit sales.