ACCOUNTS RECEIVABLE 20 points AA Ltd sells wood Adirondack chairs for $200 each. The opening balance in Accounts Receivable, on April 1, was $43,500 Dr and in the allowance account AFDA (Allowance For Doubtful Accounts) was $2,900 Cr. Part A 15 points Prepare journal entries to record the following transactions during the month of April, assuming that AA Ltd uses the Allowance Method to account for bad debts. April 4 Sold 80 chairs on account, with a cost of $90 per chair. 11 An accounts receivable of $2,600 belonging to Smith was overdue; AA decided to write off the account Collected half of the amount owing from the April 4 sale. Unexpectedly received $1,000 payment in cash from Smith, who's account had been written off on April 11 30 AA estimates that 4% of its accounts receivable balance will be uncollectible. Prepare the adjusting journal entry to record bad debt. Part B 5 points What are the April 30 adjusted balances for Accounts Receivable and AFDA that will appear on the month-end balance sheet? In your answer, include "net Accounts Receivable". 18 20