The trial balance before adjustment of Marin Inc. shows the following balances:

Dr.Cr.Accounts receivable$101,800Allowance for doubtful accounts2,000Sales revenue (all on credit)$680,000Sales returns and allowances28,600

Give the entry for bad debt expense for the current year assuming the allowance should be 5% 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 0 for the amounts.)

Account Titles and Explanation

Debit

Credit

Give the entry for bad debt expense for the current year assuming historical records indicate 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 0 for the amounts.)

BalancePercentage Estimated

to Be Uncollectible0-30 days outstanding$34,1001%31-60 days outstanding47,1006%61-90 days outstanding12,40011%Over 90 days outstanding8,20018%

Account Titles and Explanation

Debit

Credit

Give the entry for bad debt expense for the current year assuming allowance for doubtful accounts is $2,000 but it is a credit balance and the allowance should be 5% 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 0 for the amounts.)

Account Titles and Explanation

Debit

Credit

Give the entry for bad debt expense for the current year assuming allowance for doubtful accounts is $2,000 but it is a credit balance and historical records indicate 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 titles and enter 0 for the amounts.)

BalancePercentage Estimated

to Be Uncollectible0-30 days outstanding$34,1001%31-60 days outstanding47,1006%61-90 days outstanding12,40011%Over 90 days outstanding8,20018%

Account Titles and Explanation

Debit

Credit