(Solved): At December 31, Folgeys Coffee Company reports the following results for its calendar year. Cans ...

At December 31, Folgeys Coffee Company reports the following results for its calendar year. $\begin{array}{l}\text{ Cans aeien }\\ \text{ s. }906,000\\ \text{ Creatiz aniea }\\ 306,000\end{array}$ Its year-end unadjusted trial balance includes the following items. Necounte recelvable Aliowace for doutitfal aceounte \$ 131,000 debit $5,600\text{ debit }$ Prepare the adjusting entry to record bad debts expense assuming uncollectibles are estimated to be (1) $5\%$ of credit 5 ales. (2) $3\%$ of total sales and (3) $8\%$ of year-end accounts receivable. Journal entry worksheet Recond Bad Debts Expense assuming uncollectibles are estimated to be $5\%$ of credit sales. Note: Enter debits before crecits. Journal entry worksheet Record Bad Debts Expense assuming uncollectibles are estimated to be $3\%$ of total sales. Enter debits before credits. Journal entry worksheet Record Bad Debts Expense assuming uncollectibles are estimated to be $8\%$ of year-end accounts receivable.