1 A 1 B fx Wondra Supplies showed the following selected adjusted balances at its December 31, 2016 year end: H Q1 Wondra Supplies showed the following selected adjusted balances at its December 31, 2016 year end: F G 21 3 Accounts Receivable 4 Date Debit Credit 5 Dec 31/16 6 Balance 450,000 Allowance for Doubtful Accounts Date Debit Credit Dec 31/16 Balance 11,500 7 8 9 10 11 a Sales totalled $1,700,000, of which 85% were credit sales (cost of sales $925,000). b 12 c During the year 2017, the following selected transactions occurred: Sales returns were $25,000, all regarding credit sales. The returned merchandise was scrapped. An account for $30,000 was recovered. 13. 14 15 d Several accounts were written off, including one very large account; the total was 20,500. e Collected accounts receivable of $1,150,000 (excluding the recover in c) above). Required 4 = Q1 Q1 T Accounts Q2 Q3 Q4 Calculation Mode: Automatic - 3 , 2 A 1 2 Part A B D G H Journalize transactions (a) through (e). You might find it useful to post your entries to T-accounts for Accounts Receivable and Allowance for Doubtful Accounts. Part B Prepare the December 31, 2017, adjusting entry to estimate bad debts assuming the uncollectible accounts are estimated to be 1.5% of net credit sales. 3 Show how accounts receivable will appear on the December 31, 2017, balance sheet. 4 Part C Prepare the December 31, 2017, adjusting entry to estimate bad debts assuming the uncollectible accounts are estimated to be 4% of outstanding accounts receivable. 5 Show how accounts receivable will appear on the December 31, 2017, balance sheet. LEI Q1 Q1 T Accounts Q2 Q3 Q4+ Wwthank Seriering Help im