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The trial balance before adjustment of Larkspur, Inc shows the following balances: Cr. Accounts receivable Allowance for doubtful accounts Sales revenue (all on credit) Sales

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The trial balance before adjustment of Larkspur, Inc shows the following balances: Cr. Accounts receivable Allowance for doubtful accounts Sales revenue (all on credit) Sales returns and allowances Dr. $105,500 1.960 $698.000 29.100 Give the entry for bad debt expense for the current year assuming the allowance should be 4% 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 for the amounts.) Account Titles and Explanation Debit Credit e Textbook and Media List of Accounts Give the entry for bad debt expense for the current year assuming historical records show 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 for the amounts:) 0-30 days outstanding 31-60 days outstanding 61-90 days outstanding Over 90 days outstanding Balance $34.200 48,500 13.500 9.300 Percentage Estimated to Be Uncollectible 196 598 125 18% Account Titles and Explanation Debit Credit Give the entry for bad debt expense for the current year assuming allowance for doubtful accounts is $1,960 but it is a credit balance and the allowance should be 4% 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 for the amounts.) Account Titles and Explanation Debit Credit eTextbook and Media List of Accounts Give the entry for bad debt expense for the current year assuming allowance for doubtful accounts is $1,960 but it is a credit balance and historical records show 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 tidles and enter for the amounts) Percentage Estimated Balance to Be Uncollectible 0-30 days outstanding $34 200 196 31-60 days outstanding 48.500 538 61-90 days outstanding 13.500 125 Over 90 days outstanding 9.300 185 Account Titles and Explanation Debit Credit

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