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The trial balance of Oliver Company reports the following balances: a) Prepare the adjusting entry to record bad debts assuming that doubtful accounts are estimated to be 8% of gross receivables in the response template provided below. b) Prepare the adjusting entry to record bad debts assuming that doubtful accounts are estimated to be 1% of net sales in the response template provided below. A. Prepare the adjusting entry to record bad debts assuming that doubtful accounts are estimated to be 8% of gross recelvables: accounts are estimated to be 1% of net sales in the response template provided below. 7 A - B I U x2x2 B. Prepare the adjusting entry to record bad debts assuming that doubtful accounts are estimated to be 1% of net sales