6 More Info begin e exp 2018 Dec. 31 Estimated that bad debts expense for the year was 1% of credit sales of $500,000 and recorded that amount as expense. The company uses the allowance method. 31 Made the closing entry for bad debts expense. 2019 Jan. 17 Sold merchandise inventory to Manny Vasquez, $900, on account. Ignore Cost of Goods Sold Jun. 29 Wrote off Manny Vasquez's account as uncollectible after repeated efforts to collect from him. Aug. 6 Received $900 from Manny Vasquez, along with a letter apologizing for being so late. Reinstated Vasquez's account in full and recorded the cash receipt Dec. 31 Made a compound entry to write off the following accounts as uncollectible: Bill Kappy. $1.900 Mo Vanez. $1.000 and Ronald Richter. $550. 31 Estimated that bad debts expense for the year was 1% on credit sales of $550,000 and recorded the expense. 31 Made the closing entry for bad debts expense mpany Print | Done Ume Remaining: 02:16:42 Submit Test s Question: 30 pts 2 of 4 (1 complete) 1 complete) This Test: 100 pls possibil unny Watches completed the following selected transactions during 2018 and 2019 i Click the icon to view the transactions.) Read the requirements Dec. 31. Estimated that bad debts expense for the year was 1% of credit sales of $500,000 and recorded that amount as expense. The company uses the allowance method Date Accounts and Explanation Debit Credit 2018 Dec. 31 (Adj.) Dec 31: Made the closing entry for bad debts expense Date Accounts and Explanation Debit Credit Choose from any list or enter any number in the input fields and then continue to the next question 04/20/20 Chapter 12 De earch Sunny Watches completed the following selected transactions during 2018 and 2019. Click the icon to view the transactions.) Read the requirements. Dec. 31: Made the closing entry for bad debts expense. Date Accounts and Explanation Debit Credit 2018 Dec. 31 (Clos.) Now record the 2019 transactions in the general journal Jan 17 Sold inventory to Manny Vasquez $900 on account Ignore Cost of Goods Sold. Choose from any list or enter any number in the input fields and then continue to the next question de 20 O e to search Sunny Watches completed the following selected transactions during 2018 and 2019. Click the icon to view the transactions.) Read the requirements. Now record the 2019 transactions in the general journal. Jan. 17: Sold inventory to Manny Vasquez, $900, on account Ignore Cost of Goods Sold Date Accounts and Explanation Debit Credit 2019 Jan. 17 Jun. 29. Wrote off Manny Vasquez's account as uncollectible after repeated efforts to collect from him Debit Credit Date Accounts and Explanation Choose from any tist or enter any number in the input fields and then continue to the next question 0-26 0 Chapter search Ju Walches completed the following selected transactions during 2018 and 2019. (Click the icon to view the transactions.) Read the requirements. Jun. 29: Wrote off Manny Vasquez's account as uncollectible after repeated efforts to collect from him. Date Accounts and Explanation Debit Credit 2019 Jun. 29 Aug. 6. Received $900 from Manny Vasquez, along with a letter apologizing for being so late Reinstated Vasquez's account in Start by recording the entry to reinstate Vasquez's account Choose from any list or enter any number in the input fields and then continue to the next question. | 042220 2 Chap search