The financial information before adjustment of Risen Company are provided below: Cash Accounts receivable Allowance for doubtful accounts Inventory Land Sales on credit Sales returns and allowances $ 68,000 300,000 5,000 189,000 71,000 1,700,000 80,000 Instructions: Questions (a) and (b) are independent of each other. (a). Prepare the following journal entries assuming that Risen collected $1,500 previously written-off receivables and that doubtful accounts are estimated to be 6% of gross accounts receivable. Prepare the entry for the recovery of the $1,500 receivables Accounts Debit Credit Prepare journal entries to record the bad debt expense Accounts Debit Credit