Torres Gaming Incorporated, is a software development company that recently reported the following amounts (in thousands) in its unadjusted trial balance as of February 28, 2019 Accounts Receivable Allowance for Doubtful Accounts Sales and Service Revenue Debits 520,750 Credits $5,300 4,900,00 Required: 1. Assume Torres Gaming uses of 1 percent of revenue to estimate its bad debt expense for the year Prepare the adjusting Joumal entry required at February 28 for recording Bad Debt Expense 2. Assume instead that Torres Gaming uses the aging of accounts receivable method and estimates that 56,600 thousands of Accounts Receivable will be uncollectible Prepare the adjusting journal entry required at February 28 for recording bad debt expense TIP. The aging of accounts receivable method focuses on calculating what the adjusted Allowance for Doubtful Account balance should be. You need to consider the existing balance when determining the adjustment 3. Assume that the unadjusted balance in Torres Gaming's Allowance for Doubtful Accounts at February 28 was a debit balance of $1,320 thousand). Torres Gaming uses the aging of accounts receivable method and estimates that $6600 (thousands of Accounts Receivable will be uncollectible. Prepare the adjusting journal entry required at February 28 for recording bad debt expense 4. If one of Torres Ganung's customers declared bankruptcy, what journal entry would be used to write off its $660 thousand) balance? View transaction list Journal entry worksheet