Use the following data to answer questions from Part I and Part II below On December 31, 2008, the unadjusted trial balance of K&A Inc., included the following accounts: Debit Credit $900,000 Sales (90% represent credit sales) Accounts Receivable.l... $300,000 300 Part 1: Assume K&A estimates bad debts expense as 1% of credit sales. 1. The adjusting entry on December 31, 2008 would include a debit to what account? A. Accounts Receivable B. Allowance for Doubtful Accounts C. Bad Debts Expense D. Sales E. None of the above 2. The adjusting entry on December 31, 2008 would include a credit to what account? A. Accounts Receivable B. Allowance for Doubtful Accounts C. Bad Debts Expense D. Sales E. None of the above 3. Refer to the two previous questions. The amount of the entry is: 4. The net realizable value of accounts receivable reported on the December 31, 2008 balance sheet, after the adjusting iournal entry, is: 5. Assume the Allowance for Doubtful Accounts had a $300 debit balance on December 31, 2008: A. The amount of Bad Debt Expense recorded (the adjusting entry) on December 31, 2008 would be: B. The net realizable value of accounts receivable reported on the December 31, 2008 balance sheet, after the adjusting journal entry, would be