E7-7B (Recording Bad Debts) Rodriguez Company reports the following financial information before adjustments. Debits CreditsAccounts Receivable $25000Allowance for Doubtful Accounts $ 500Sales (all on credit) 225000Sales Returns and Allowances 12500InstructionsPrepare the journal entry to record Bad Debt Expense assuming Rodriguez Company estimates bad debtsat (a) 3% of net sales and (b) 8% of accounts receivable.