25. Chipman software recently reported the following amounts in its unadjusted trial balance at its year-end Debits $ 2,000 Credits S 29 34,000 Allowance for Doubtful Acoounts Sales (assume all on credit) Required 182. Prepare the adjusting journal entry required for the year. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Round your answers to nearest whole dollar amount.) (i) Assume Chipman uses 1/2 of 1 percent of sales to estimate its Bad Debt Expense for the year (ii) Assume instead that Chipman uses the aging of accounts receivable method and estimates that S70 of its Accounts Receivable will be uncollectible View transaction list Import a new list Record the adjusting entry for bad debts using percent credit sales method 1 2 Record the adjusting entry for bad debts using the aging of accounts recelvable method Credit Note-journal entry has been entered Record entry Clear entry View general journal 3. Assume instead that Chipman uses the aging of accounts receivable method and estimates that S70 of its Accounts Receivable will be uncollectible. Prepare the year-end adjusting journal entry for recording Bad Debt Expense. Also, assume Chipman's year-end unadjusted balance in Chipman's Allowance for Doubtful Accounts was a debit balance of $31. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the adjusting entry for bad debts using the aging of accounts recelvable method. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal 4. If one of Chipman's main customers declared bankruptcy after year-end, what journal entry would be used to write off its $10 baace? (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the write-off certain customer account which is not collectible due to bankruptcy declared by the customer totaling $10 Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal