E7-7 (Recording Bad Debts) Duncan Company reports the following financial information before adjustments. Dr. Accounts Receivable $100,000 Allowance for Doubtful Accounts $ 2,000 Sales Revenue (all on credit 900,000 Sales Returns and Allowances 50,000 Instructions Prepare the journal entry to record Bad Debt Expense assuming Duncan Company estimates bad debts at (a) i% of net sales and (b) 5% of accounts receivable