Crazy Jane Company reports the following financial information before adjustments. Prepare the journal entry to record bad debt expense assuming Crane Company estimates bad debts at (a) 5% of accounts receivable and (b) 5% of accounts receivable but Allowance for Doubtful Accounts had a $1,510 debit balance. (a) Crazy Jane Company would prepare the following adjusting journal entry: The following account would be debited: and would be credited for: $ (b) Crazy Jane Company would prepare the following adjusting journal entry: The following account would be debited: and would be credited for $