Chipman Sofware recently reported the following amounts in its unadjusted trial balance at its year-end: Debits $2,500 Credits Accounts Receivable Allowance for Doubtful Accounts Sales (assume all on credit) $ 24 39,000 Required: 1. Prepare the adjusting journal entry required for the year. Assume Chipman uses 3/4 of 1 percent of sales to estimate 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 $75 of its Accounts its Bad Debt Expense for the year. receivable method and estimates that $75 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 $36. 4. If one of Chipman's main customers declared bankruptcy after year-end, what journal entry would be used to write of its $10 balance? Required 1 Required 2 Required 3Required 4 Prepare the adjusting journal entry required for the year. Assume Chipman uses 3/4 of 1 percent of sales to estimate its Ba Expense for the year. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account your final answer to the nearest whole dollar.) View transaction list Journal entry worksheet Record the entry for bad debt expenses under the percentage of credit sales method Note: Enter debits before credits. Transaction General Journal Debit Credit Required 1 Required 2 Required 3Required 4 Prepare the adjusting journal entry required for the year. Assume instead that Chipman uses the aging of accounts receivable and estimates that $75 of its Accounts Receivable will be uncollectible. (If no entry is required for a transaction/event, select Entry Required" in the first account field) View transaction list Journal entry worksheet Record the entry for bad debt expenses under the aging of accounts receivable method Note: Enter debits before credits. Transaction General Journal Debit Credit Required 1 Required 2 Required 3 Required 4 Assume instead that Chipman uses the aging of accounts receivable method and estimates that $75 of its Accou uncollectible. Prepare the year-end adjusting journal entry for recording Bad Debt Expense. Assume Chipman's balance in Allowance for Doubtful Accounts was a debit balance of $36. (If no entry is required for a transaction 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 receivable method. Note: Enter debits before credits. Transaction General Journal Debit Credit Required 1Required 2Required 3 Required 4 If one of Chipman's main customers declared bankruptcy after year-end, what journal entry would be us (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account fie 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