1.

• The balance sheet at the end of 2018 reported Accounts Receivable of $785,500 and Allowance for Doubtful Accounts of $11,783 (credit balance).
• The companys total sales during 2019 were $8,350,200. Of these, $1,252,530 were cash sales the rest were credit sales.
• By the end of the year, the company had collected $6,291,700 of accounts receivable.
• It also wrote off an account for $10,380.

A.Prepare the journal entry for sales.

B. Prepare the journal entry for collections.

C. Prepare the journal entry for write-offs.

D. Post the beginning balance and the journal entries to the T-account for Accounts Receivable. Calculate the balance after these entries have been posted.

E. Post the beginning balance and the journal entries to the T-account Allowance for Doubtful Accounts. Calculate and enter the balance after these entries have been posted.

1.2. December 31, 2019 aging schedule

Age Category	Amount	% Estimated as Uncollectible	$ Estimated as Uncollectible
Current	$1,502,000	0.75%	$11,265
0-90 days past due	64,300	1.5%	965
91-180 days past due	11,719	15%	1,758
Over 180 days past due	3,071	75%	2,303
Total	$1,581,090		$16,291

Given the T-accounts for Accounts Receivable and Allowance for Doubtful Accounts and the aging schedule above, prepare the December 31, 2019 adjusting entry for bad debt. Show and label any calculation below the journal entry.

A. Enter the amount for Bad Debt Expense and which financial statement it will appear on.

B. Enter the amount for Accounts Receivable and which financial statement it will appear on.

C. Enter the amount for Allowance for Doubtful Accounts and which financial statement it will appear on.

D. Enter the amount for Net realizable value of Accounts Receivable and which financial statement it will appear on.

E. Prepare the December 31, 2019 adjusting entry for bad debt assuming the company uses % of credit sales instead of aging and it estimates that 0.3% of credit sales will be uncollectible. Show and label any calculation below the journal entry.