inventory system. Round At December 31, 2018, Ingleton Company reports the following results for the year. Problem 7-2B Estimating and reporting bad debts P2 P3 $1,025,000 1,342,000 Cash sales. Credit sales... In addition, its unadjusted trial balance includes the following items. Accounts receivable............. Allowance for doubtful accounts.... $575,000 debit 7,500 credit h of the following inde- Dr Bad Debts (16) $35,505 000 Required 1. Prepare the adjusting entry for Ingleton Co. to recognize bad debts under each of the followin pendent assumptions. a. Bad debts are estimated to be 2.5% of credit sales. b. Bad debts are estimated to be 1.5% of total sales. C. An aging analysis estimates that 6% of year-end accounts receivable are uncollectible, 2. Show how Accounts Receivable and the Allowance for Doubtful Accounts appear on its Decembar 2 2018, balance sheet given the facts in part la. 3. Show how Accounts Receivable and the Allowance for Doubtful Accounts appear on its December 21 2018, balance sheet given the facts in part lc