Give the entry for bad debt expense for the current year assuming the allowance should be 3% of gross accounts receivable. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit Give the entry for bad debt expense for the current year assuming historical records indicate that, based on accounts receivable aging, the following percentages will not be collected: (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Percentage Estimated 0-30 days outstanding 31-60 days outstanding 61-90 days outstanding Over 90 days outstanding Balance $37,000 45,400 12,000 8,800 to Be Uncollectible 196 5% 13% 1796 Account Titles and Explanation Debit Credit Give the entry for bad debt expense for the current year assuming allowance for doubtful accounts is $1,950 but it is a credit balance and the allowance should be 3% of gross accounts receivable. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit Give the entry for bad debt expense for the current year assuming allowance for doubtful accounts is $1,950 but it is a credit balance and historical records indicate that the following percentages will not be collected: (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Percentage Estimated Balance 0-30 days outstanding $37,000 31-60 days outstanding 45,400 61-90 days outstanding 12,000 Over 90 days outstanding 8,800 to Be Uncollectible 1% 5% 1396 17% Account Titles and Explanation Debit Credit