Sweet Company reports the following financial information before adjustments. Dr. Cr. Accounts Receivable $147,300 Allowance for Doubtful Accounts $3,380 Sales Revenue (all on credit) 809,000 Sales Returns and Allowances 50,910 Prepare the journal entry to record bad debt expense assuming Sweet Company estimates bad debts at (a) 5% of accounts receivable and (b) 5% of accounts receivable but Allowance for Doubtful Accounts had a $1,380 debit balance. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

Exercise 7-7 Sweet Company reports the following financial information before adjustments. Dr. Cr. $147,300 Accounts Receivable Allowance for Doubtful Accounts Sales Revenue (all on credit) Sales Returns and Allowances $3,380 809,000 50,910 Prepare the journal entry to record bad debt expense assuming Sweet Company estimates bad debts at (a) 5% of accounts receivable and (b) 5% of accounts receivable but Allowance for Doubtful Accounts had a $1,380 debit balance. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit (a) Click if you would like to Show Work for this question: Open Show Work