Hi -

Please help me with the following problem:

The trial balance before adjustment ofSwiftyInc. shows the following balances:

Dr. Cr.

Accounts Receivable $113,400

Allowance for Doubtful Accounts 2,205

Sales Revenue (all on credit) $856,800

Give the entry for estimated bad debts assuming that the allowance is to provide for doubtful accounts on the basis of (a)4% of gross accounts receivable and (b)5% of gross accounts receivable and Allowance for Doubtful Accounts has a $2,055credit balance.(If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

Debit Credit

(a) Bad Debt

Allowance For Doubtful Acct

(b)Bad Debt

Allowance For Doubtful Acct

Thank you!