Based on the following information caculate the bad debt expense and show the journal entry. Using a T-account,
show the balance in the Allowance for Bad Debts.
	Net Credit Sales $800,000
	Balance in Allowance Account - CR of $200 (before adjusting entry)
	Balance in Accounts Receivable - DR of $8,000
	1) If the company uses the Percentage-of-Sales Method, it estimates bad debt expense to be 1%
	2) If the company uses Percentage-of-Sales Receivables, it estimates bad debt to be 4%