The Kraft Heinz Company was formed in 2015 with the merger of Kraft Foods and H.J. Heinz Corporation. Assume the company reported the following amounts in its unadjusted trial balance (in millions) as of December 31, 2020: Accounts Receivable Debits $4,880 Allowance for Doubtful Accounts Sales (assume all on credit) Credits $ 186 44,100 Required: 1. Assume Kraft Heinz uses of 1 percent of sales to estimate its Bad debt expense for the year. Prepare the adjusting journal entry required for the year, assuming no Bad debt expense has been recorded yet. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions rounded to the nearest whole dollar number.) General Journal View transaction list View journal entry worksheet No Transaction Debit Credit ........ 2. Assume instead that Kraft Heinz uses the aging of accounts receivable method and estimates that $321 million of its Accounts Receivable will be uncollectible. Prepare the adjusting journal entry required at December 31, 2020, for recording Bad Debt Expense. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions.) General Journal Debit Credit View transaction list View journal entry worksheet No Transaction 3. Assume instead that Kraft Heinz uses the aging of accounts receivable method and estimates that $321 million of its Accounts Receivable will be uncollectible. Also, assume that the unadjusted balance in Kraft Heinz's Allowance for Doubtful Accounts at December 31, 2020, was a debit balance of $36 million. Prepare the adjusting journal entry required at December 31, 2020, for recording bad debt expense. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions.) View transaction list View journal entry worksheet No Transaction General Journal Debit Credit 4. If one of Kraft Heinz's main customers declared bankruptcy in 2021, what journal entry would be used to write off its $34 million balance? (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions.) General Journal Debit Credit View transaction list View journal entry worksheet No Transaction