c. On Dec 31, 2020, recorded an adjusting entry for bad debt expense related to uncollectible accounts receivable using the allowance method. The company estimates that 8% of year-end accounts receivable of $500,000 will be uncollectible. The balance in the Allowance account before the adjusting entry is $5,000 credit. Income statement: Bad debt expense Balance sheet:Accounts Receivable (net) d. ReOn Dec 31, 2020, recorded an adjusting entry, if necessary to adjust inventory to the lower of cost or NRV At the end of 2020, the company had 1,000 units in ending inventory with a cost per unit of $78. The estimated selling price/NRV per unit was $72. Income statement: Loss on inventory write-down Balance sheet: Inventory e. On Dec 31, 2020, recorded an adjusting entry to adjust an investment in common stock to fair value. At the end of 2020, the fair value of the investment was $106,000. Before this entry, the balance in the Investment account was $100,000; the balance in the Fair value adjustment was $10,000 credit. Income statement: Unrealized gain/loss-NI Balance sheet: Investment in common stock (net)