From the From the dropdown box beside each numbered balance sheet item, select the option of its balance sheet classification. If the item should not appear on the balance sheet, choose the option "No item required" from the selection choices. box beside each numbered balance sheet item, select the option of its balance sheet classification. If the item should not appear on the balance sheet, choose the option "No item required" from the selection choices.

Exercise 7-7 martinez company reports the following financial information before adjustments. dr. cr. accounts receivable $168,900 allowance for doubtful accounts $3,200 sales revenue (all on credit) 849,300 sales returns and allowances 50,440 prepare the journal entry to record bad debt expense assuming martinez company estimates bad debts at (a) 4% of accounts receivable and (b) 4% of accounts receivable but allowance for doubtful accounts had a $1,550 debit 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.)