1- Megan's Products is undecided about which basis to use in estimating uncollectible accounts. On December 31, 2020, the balance in Accounts Receivable was $308,000 and net credit sales amounted to $2,700,000 during 2020. An aging analysis of the accounts receivable indicated that $31,000 in accounts are expected to be uncollectible. Past experience has shown that about 1% of net credit sales eventually are uncollectible.

Prepare the adjusting entries to record estimated bad debt expense using the (1) percentage of sales basis and (2) the percentage of receivables basis under each of the following independent assumptions:

(a) Allowance for Doubtful Accounts has a credit balance of $2,300 before adjustment

2- da Marion earns a salary of $7,500 per month during the year. FICA taxes are 7.65% on the first $127,200 of gross earnings. Federal unemployment insurance taxes are 6.2% of the first $7,000; however, a credit is allowed equal to the state unemployment insurance taxes of 5.4% on the $7,000. During the year, $25,600 was withheld for federal income taxes and $5,700 was withheld for state income taxes.

(a) a journal entry summarizing the payment of Ada's total salary during the year.

(b) a journal entry summarizing the employer payroll tax expense on Ada's salary for the year.

(c) Determine the cost of employing Ada for the year