Exercise 7-11 The trial balance before adjustment of Teal Mountain Inc. shows the following balances: Dr. Cr. Accounts receivable $105,800 Allowance for doubtful accounts 2,000 Sales revenue (all on credit) $690,000 Sales returns and allowances 30,600 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 a when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amoun Debit Credit Account Titles and Explanation 7290 Bad Debt Expense 7290 Allowance for Doubtful Accounts the Enllwina De Give the entry for bad debt expers for the current year souming historical records indicate that, based on stunts recente (Credit account titles are automatically indated when amount ante. Do not indentally friends enter for the amounts) Percentage Estimated Balance to be incollectible 0-30 days outstanding 137,200 31-60 days outstanding 47,900 4 01-90 days outstanding 12,500 12 Over 90 days outstanding 3,200 1 Account Titles and Explanation Debe Credi Give the entry for bad debt expense for the current yearuming allowance for del consis 2.000 but it is a credit and the Woche accounts receivable. (Credit accountries are automatically indented what is need no tinde mamy. It is the account ttles and enter for the amounts) Account Titles and Explanation Debut Credit