a.

Journalize, withoutexplanations, December31, 2020

2020 adjusting entries for Wright's

Wright's Building Supplies.

i.

Estimated bad debt expense was $175 000

for the firstthree-quarters of the year based on thepercent-of-sales method.

ii.

Write-offs of Accounts Receivable totalled $200000

iii.

December31, 2020

2020, aging of receivablesindicates, using estimatedamounts, that $240000

of total receivables are uncollectible.

b.

Post all three transactions to theT-account for Allowance for DoubtfulAccounts, as follows.

Allowance for Doubtful Accounts

Allowance

for Doubtful Accounts 2020

2020 Write-offs Dec.31 2019 Balance 218,750

2020 Expense ?

Bal. before adjustments ?

Dec 31 2020 Adjustment ?

Dec 31 2020 Balance 240000

c.

Report Wright's BuildingSupplies's receivables and related allowance on the December31, 2020 balance sheet. Accounts Receivable at that date totals $5170000.

d.

What is the expected net realizable value of receivables at December31, 2020

How much is bad debt expense for 2020