The trial balance before adjustment of Marin Inc. shows the following balances: Dr. Cr. Accounts receivable $104,000 Allowance for doubtful accounts 1.995 Sales revenue (all on credit) $652.000 Sales returns and allowances 28.400 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 o for the amounts.) Account Titles and Explanation Debit Credit Bad Debt Expense 6155 Allowance for Doubtful Accounts 6155 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 O for the amounts.) w Percentage Estimated to Be Uncollectible Balance 0-30 days outstanding $35,500 1% 31-60 days outstanding 46,500 5% 61-90 days outstanding 13.100 12% Over 90 days outstanding 8.900 18% Account Titles and Explanation Debit Credit Bad Debt Expense Allowance for Doubtful Accounts List of Accounts pe here to search O Give the entry for bad debt expense for the current year assuming allowance for doubtful accounts is $1.995 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 O for the amounts.) Account Titles and Explanation Debit Credit List of Accounts Give the entry for bad debt expense for the current year assuming allowance for doubtful accounts is $1,995 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 titles and enter for the amounts.) Percentage Estimated to Be Uncollectible Balance Give the entry for bad debt expense for the current year assuming allowance for doubtful accounts is $1,995 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 titles and enter for the amounts.) Percentage Estimated to Be Uncollectible Balance 0-30 days outstanding $35,500 1% 31-60 days outstanding 46,500 5% 61-90 days outstanding 13,100 12% Over 90 days outstanding 8.900 18% Account Titles and Explanation Debit Credit Type here to search DI a
