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a Keiichi Co.'s balance sheet as of September 30, 2019 showed Accounts Receivable debit balance of $600,000 and Allowance for Doubtful Accounts credit balance of

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a Keiichi Co.'s balance sheet as of September 30, 2019 showed Accounts Receivable debit balance of $600,000 and Allowance for Doubtful Accounts credit balance of $40,000. During October 2019, the transactions affecting accounts receivable were as follows: (8 pts) a) Sales on account b) Sales returns and allowances c) Cash collections from customers d) Accounts receivable from Ace Co. written off $ 105,000 5,000 110,000 22,000 After an analysis of an aging schedule of all customer's accounts on October 31, 2019, Kenichi Co decided that Allowance for Doubtful Accounts should be adjusted to a balance of $25,000 Required: a) Using October 1 as the transaction date, record the journal entry for each of the four items above (a, b, c, and d). No explanations are required. (2 pts) b) Record the adjusting entry on October 31 to adjust the allowance for doubtful accounts assum- ing that Keiichi Co. adjusts its accounts at the end of each month. No explanation required. (2 pts) C) Calculate the net accounts receivable that should be reported on the October 31 balance sheet (2 pts) d) Suppose that on June 30, eight months after the receivable from Ace Co. had been written-off, Ace Company sent Keiichi Co. a check for $15,000. Record the journal entry. (2 pts) 5. From the following information for El Camino Co. (10.5 pts) 1) The cash account in the general ledger had a balance of $6,200 on September 30, 2019. El Camino ro's bank statement had a rach halance of 7700 on Sentember 20 2019

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