Current Attempt in Progress The trial balance before adjustment of Sheridan Company reports the following balances: Dr. Cr. Accounts receivable $108,000 Allowance for doubtful accounts $2,340 Sales (all on credit) 800,000 Sales returns and allowances 49,000 (a) Prepare the entry for estimated bad debts assuming that doubtful accounts are estimated to be 7% of gross accounts receivable. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Save for Later Attempts: 0 of 1 used Submit