You are a financial analyst working for XYZ Corporation, a company that provides goods or services on credit to its customers. Your task is to estimate the bad debt expense for the upcoming fiscal year. Data Provided: a. Beginning Accounts Receivable: $1,500,000 b. Credit Sales for the Year: $5,000,000 c. Ending Accounts Receivable: $1,700,000 d. Historical Bad Debt Percentage: 3% Hint: - Use the Historical Bad Debt Percentage to calculate the bad debt amount. Questions to Answer: a. What is the Average Accounts Receivable for the year? b. What is the Estimated Bad Debt Expense for the upcoming fiscal year? c. Write a journal entry for estimating bad debts. d. Calculate the ending balance of Net Accounts receivable (Gross accounts receivable Allowance for doubtful accounts)