6. Jupiter Company has decided to write off the Accounts Receivable of lack Lewis. The $2,100 balance in the Jack Lewis account originated from a credit sale in July of last year. What is the journal entry this year to record the write off? (Assume Jupiter uses the Allowance method) a. Allowance for Doubtful Accounts 2.100 Accounts Receivable Jack Lewis 2,100 b. Accounts Receivable Jack Lewis 2.100 Allowance for Doubtful Accounts 2,100 1 C. Bad Debts Expense 2,100 Allowance for Doubtful Accounts 2,100 2,100 d. Bad Debts Expense 2,100 Accounts Receivable-Jack Lewis 7. White Company estimates Bad Debts Expense to be 2% of net credit sales. The following data is available for 2020: Allowance for Doubtful Accounts, 1/1/2020 Accounts written off as uncollectible during 2020 Net credit sales in 2020 $ 21,000 Cr. $ 13,000 $3,000,000 The Allowance for Doubtful Accounts balance, after adjustment at December 31, 2020, will be: a. $68,000 b. $60,000 c. $81,000 d. $13,000 8. A method that makes no attempt to estimate uncollectible accounts or bad debts expense at the end of each period, but in which an account found to be uncollectible is written off directly to Bad Debts Expense is the: a. Allowance method of accounting for bad debts. b. Aging accounts receivable method of accounting for bad debts. c. Estimated method of accounting for bad debts. d. Direct write off method of accounting for bad debts. e. Contingent liability method of accounting for bad debts. I 9. Beta Company completes an aging schedule of its Accounts Receivable in order to determine the year end adjustment for bad debts expense. At the end of 2020, management estimates from the aging schedule that $14,750 of the Accounts Receivable balance will be uncollectible. The Allowance for Doubtful Accounts account has a debit balance before adjustment) of $175. What adjusting entry should Beta make on December 31, 2020 to record bad debts expense? a. Bad Debts Expense 14.750 Allowance for Doubtful Accounts 14,750 b. Bad Debts Expense 14.575 Allowance for Doubtful Accounts 14,575 b. Bad Debts Expense 14.575 Allowance for Doubtful Accounts 14,575 2,000 a. Notes Receivable-v. Nathalvin Accounts Receivable-V. Nathan 2,000 b. Accounts Receivable-V. Nathan 2,000 2,000 Notes Receivable-V. Nathan C. Cash 2045 Interest Revenue Notes Receivable 45 2,000 2,045 d. Notes Receivable-V. Nathan 2,045 Accounts Receivable-V. Nathan