(Answered) Vaughn company reports the following financial information

Accounting

Vaughn Company reports the following financial information before adjustments.

	Dr.	Cr.
Accounts Receivable	$155,400
Allowance for Doubtful Accounts		$3,890
Sales Revenue (all on credit)		800,700
Sales Returns and Allowances	50,330

Prepare the journal entry to record bad debt expense assuming Vaughn Company estimates bad debts at (a) 4% of accounts receivable and (b) 4% of accounts receivable but Allowance for Doubtful Accounts had a $1,470 debit balance.

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