The trial balance before adjustment of Concord Company reports the following balances: Dr. Cr. $ 230,000 Accounts receivable Allowance for doubtful accounts $ 1,280 Sales (all on credit) 500,000 Sales returns and allowances 20,000 (a) Prepare the entry for estimated bad debts assuming that doubtful accounts are estimated to be 5% of gross accounts receivable. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Save for Later Attempts: 0 of 1 used Submit