Current Attempt in Progress Sarasota Company reports the following financial information before adjustments. Dr. Cr. $153,000 Accounts Receivable Allowance for Doubtful Accounts Sales Revenue (all on credit) Sales Returns and Allowances $3,030 834,500 50,540 Prepare the journal entry to record bad debt expense assuming Sarasota Company estimates bad debts at (a) 5% of accounts receivable and (b) 5% of accounts receivable but Allowance for Doubtful Accounts had a $1,540 debit balance. (If no entry is required, select "No Entry" for the account titles and enter for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)