Difficult one i need help for this

Question 3 (8 marks) Creekstone Jewellery had the following unadjusted balances in its general ledger accounts as of its year end date of December 31, 2020: DR. CR. Accounts receivable $1 422 100 Allowance for doubtful accounts $1,457 Sales revenue $15,871,000 80% of Creekstone's sales revenue for the 2020 year was generated from sales that were made on account. The following events occurred during the 2021 year: May 25 Customer Jonathan Smith paid the balance owing on his account of $5,200. Management wrote off this account receivable when the December 31, 2020 adjusting journal entries were made. July 17 Management determined that the account receivable balance of $4,400 owing from Ralph's Custom Jewellery was uncollectible. Creekstone follows the allowance method of accounting for bad debts. Required: 1. Prepare the adjusting journal entry for bad debts on December 31, 2020, assuming that bad debts expense is estimated to be 1.5% of credit sales. (2 marks) 2. Prepare the adjusting journal entry for bad debts on December 31, 2020 assuming that uncollectible accounts are estimated to be 1.5% of outstanding accounts receivable. (3 marks) 3. Prepare journal entries forthe events that occurred on May 25, 2021 and July 17, 2021