use the information given to answer the questions below

1. if ACME estimates its bad debt expense as 1% of credir sales, how much is bad debt expense?

2. if acme estimates its ending allowance for doubtful accounts as 5% of the ending balance in A/R, how much is accrued as bad debt expense?

On January 1, 2019, Acme Inc. had starting balances in accounts receivable of $300,000 and in the allowance for doubtful accounts of $20,000. Credits sales during 2019 totaled $1,200,000 and cash collected from customers was $1,100,000. In addition, $25.000 due from a customer was written off during the year. If Acme estimates its bad debt expense as 1% of credit sales, how much should be recorded as bad debt expense for 2019? Question 10 (3 points) If Acme estimates its ending allowance for doubtful accounts as 5% of the ending balance in accounts receivable, how much should be accrued as bad debt expense for 2019