#4-7 please

Make Journal entries for the following transactions for the Hat Store a 3/1 b C d e 3/2 3/5 3/6 3/8 Hat Store buys hats on account for $4,400 from a distributor with terms FOB shipping point and payment 2/10 net 30 Paid freight on the purchase from 3/1 cash $100 Sold 20 hats to a baseball team for $600 on account 3/10 net 30. The cost of the hats was $200 Hat store returned 3 damaged hats, related to 3/1 purchase and received a $200 credit Paid the distributor for the purchase in #1 in full and took the discount. Remember to subtract the discount.. Hat store bought more hats for $5,500, cash. No freight cost Received payment from the customer for merchandise sold on 3/5. Customer took the discount. Hat store sold 50 hats fost 200 cash. Terms are FOB destination. The cost of the 50 hats was $500 The Hat store paid freight on the 3/9 sale $100 cash Customer from 3/9 sale returned 5 hats and we gave them cash back of $120. The cost on those hats was $50 f g h 3/8 3/9 3/9 3/10 1 A 07 B D E F ABC Software has revenue of 300,000 in 2002 and estimates they should put 10% of revenue in the Allowance for Doubtful accounts. 28 4 Make the entry on 12/31/2002 for this below - assume they have not had any entries to the Allowance prior to this. DATE Account Debit Credit 114 115 116 117 118 Accounts Receivable (gross) at 12/31/2002 is the following aged: 120 Age 1-30 days 31-60 days 61-90 days over 90 days Total A/R 123 $ $ $ $ $ Amount 60,000 40,000 30,000 10,000 140,000 Target Allowance (% they don't think they can collect) 5% 10% 50% 90% 124 125 127 5 Based on the above schedule, how much should they have in the Allowance for Doubtful accounts? 128 129 130 6 Make the Journal entry to adjust the allowance account. Use #4 answer as the current amount in that account DATE Account Debit Credit 7 Early the next year they decide to write off the receivable from a customer for $2,000 Describe this with a journal entry DATE Chantal Chant Account Debit Credit