Chipman Sofware recently reported the following amounts in its unadjusted trial balance at its year-end: Debits $2, 100 Credits Accounts Receivable Allowance for Doubtful Accounts Sales (assume all on credit) $ 28 35, 000 Required: 1. Prepare the adjusting journal entry required for the year. Assume Chipman uses 1/4 of 1 percent of sales to estimate its 2. Prepare the adjusting journal entry required for the year. Assume instead that Chipman uses the aging of accounts 3. Assume instead that Chipman uses the aging of accounts receivable method and estimates that $71 of its Accounts Bad Debt Expense for the year. receivable method and estimates that $71 of its Accounts Receivable will be uncollectible Receivable will be uncollectible. Prepare the year-end adjusting journal entry for recording Bad Debt Expense. Assume Chipman's year-end unadjusted balance in Allowance for Doubtful Accounts was a debit balance of $32. 4. If one of Chipman's main customers declared bankruptcy after year-end, what journal entry would be used to write off its $20 balance? Complete this question by entering your answers in the tabs below