Marigold Company reports the following financial information before adjustments. Accounts Receivable Allowance for Doubtful Accounts Sales Revenue (all on credit) Sales Returns and Allowances Dr. $153,000 (a) 50,540 No. Account Titles and Explanation (b) Prepare the journal entry to record bad debt expense assuming Marigold 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, Cr. select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) $3,030 834,500 Debit Credit ||||| SU

Macigold Company reports the following financial information before adjustments Prepare the journal entry to record bad debt expense assuming Marigold Company estimstes 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, sefect "No thery" for the account fitlet and enter of or the emcaints. Credit account bitles are outomatically indented when the amount is entered Do not indent manually. List all debit entries before credit entries