Transactions follow for the Blossom Sports Ltd. store and four of its customers in the company's first month of business: June Ben Kidd used his Blossom Sports credit card to purchase $990 of merchandise. 6 Bijana Pavic used her Mastercard credit card to purchase $840 of merchandise. Mastercard charges a 25% service fee. 9. Nicole Montpetit purchased $402 of merchandise on account, terms 2/10,n/30. 19 Bonnie Cutcliffe used her debit card to purchase $234 of merchandise. There is a $0.50 service charge on all debit card transactions. 20 Ben Kidd made a $302 payment on his credit card account. 23 Nicole Montpetit purchased an additional $525 of merchandise on account, terms 2/10,n/30. 25 Nicole Montpetit paid the amount owing on her June 9 purchase. 30 Bdiana Pavic used ber Mastercard to purchase $480 of merchandise Mastercard charges 325 ghilservice fee. Record the above transactions. I gnore any inventory and cost of goods sold entries for the purposes of this cuestion. (Greait account titles are outomatically indented when the amount is entered. Do not indent monually. If no entry is roplired select "No Entry" for the occount titles and enter 0 for the amounts: List all debit entries before credit entries. Round answers to 2 decimal places, es. 52.75 Record /ournal entries in the order presented in the problem.) Date Acoount Trtles Debit Credit Carla Vista Co. uses the percentage of sales approach to record bad debt expense. It estimates that 1.5% of net credit salei will become uncollectible. Credit sales are \$1,076,000 for the year ended April 30, 2024, sales returns and allowances are $61.000; sales discounts are $23.000; accounts receivable are $353.400; and the allowance for doubtful accounts has a credit balance of $6,840. (a) Prepare the adjusting entry to record bad debt expense in 2024. (Credit account titles are automatically indented when the anount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter Ofor the arnountx. Lit debit entry before credit entry) At the end of 2023, Cullumber Ca. has an allowance for doubtful accounts of $40,000. On January 31, 2024, whenit has accounts receivable of $620,000, Cullumber Co, learns that its $7,900 receivable from Tokarik inc, is not collectible. Management authorires a write-oft. (a) Record the write-oft. (Credit account tities are outomatically indented when the amount is entered. Do not indent manualls if no entry is required, select "No Entry" for the occount tities and enter O for the amounts List debit entry before credit entry)
