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: Credits Debits $5,680 Accounts Receivable Allowance for Doubtful Account Sales (as mume all on credit) $ 135 45,450 Required: 1. Assume Kraft Heinz uses 1 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.) View transaction tist View Journal entry workshoot Debit Credit No Transaction General Journal 227 A 1. Bad debt expenso 227 2. Assume instead that Kraft Heinz uses the aging of accounts receivable method and estimates that $315 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.) View transaction list View journal entry worksheet Debit Credit No General Journal Transaction 1. A Bad debt expense Allowance for doubtful accounts 3. Assume instead that Kraft Heinz uses the aging of accounts receivable method and estimates that $315 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 $35 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 Debit Credit A General Journal Bad debt expense Allowance for doubtful accounts 350 350 4. If one of Kraft Heinz's main customers declared bankruptcy in 2021, what journal entry would be used to write off its $30 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.) View transaction list View journal entry worksheet Debit Credit No Transaction General Journal 30 A 1. Allowance for doubtful accounts Bad debt expense 30