Duncan Company reports the following financial information before adjustments. Dr. CR. Accounts Receivable $200,000 Allowance for Doubtful Accounts $3,000 Sales Revenue (all on credit) 900,000 Sales Returns and Allowances 40,000 Instructions: Prepare the journal entry to record Bad Debt Expense assuming Duncan Company estimates bad debts at (a) 1% of net sales and (b) 5% of accounts receivable