The unadjusted trial balance on December 31 showed the following account balances: Sales $220,000 Sales returns and allowances $ 10,000 Accounts receivable $50,000 Allowance for doubtful accounts 400 (credit) Required: a. Assuming that it is estimated that 4% of accounts receivable will be uncollectible, prepare 1. the adjusting journal entry to record the estimate of bad debts. 2. the balance sheet presentation on December 31 after adjustment. Repeat part a, assuming that it is estimated that 1% of net b. sales are uncollectible. c. Repeat parts a and b, assuming that the Allowance account has a $200 debit balance