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4 part question Slate, Inc. has been using the percentage of credit sales method to estimate bad debts at the end of each month. During

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4 part question
Slate, Inc. has been using the percentage of credit sales method to estimate bad debts at the end of each month. During the month of November 2020. Slate generated sales revenue (all on account) of $92,000 and estimated that 2% of those sales would be uncollectible. 1) Prepare the November 30th adjusting entry for bad debts. 2.) Starting in December, Slate switched to using the aging of receivables method, The company performed an aging of accounts receivable on December 31, 2020 and gathered the following information: Accounts Receivable $120,000 Allowance for Doubtful Accounts (credit balance) 7.900 (Before adjusting entries) Estimated uncollectible Accounts Receivable 9.900 (Per the aging schedule) Prepare the December 31st adjusting entry for bad debts. 3.) What is the amount of Net Accounts Receivable that will be reported on the financial statements at December 31, 2020? 4.) Early in 2021. Slater decides to write off an $1,100 receivable because the customer filed for bankruptcy. Prepare the journal entry to record the write off of the receivable. Journal entry worksheet

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