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Question 3 Bad Debt Expense - 10 minutes - 4 marks Answer saved Marked out of 4.00 On December 31st, 2020, Winterfell Inc. had the following balances before adjustments: P Flag question Debit Credit Accounts Receivable 472,000 Allowance for Doubtful Accounts 2,565 Credit Sales 1,884,000 Required 1. Assume that uncollectible accounts are estimated to be 4% of accounts receivables. Prepare the necessary adjusting entry with December 31, 2020 as the entry date. Journal entry narrative is not required. 2. Assume that uncollectible accounts are estimated to be 1.5% of credit sales. Prepare the necessary adjusting entry with December 31, 2020 as the entry date. Part 1 General Journal Date Account Titles and Explanation Debit Credit I Part 2 Part 2 General Journal Date Account Titles and Explanation Debit Credit