Accounts receivable transactions of Company B in 2021

Instructions: Write the accounting entries related to the following 1~6 transactions

1. Credit sales of $5,000 at the end of January 2021, 2/10, n/30. Company B’s sales are accompanied by a right of return. Based on experience, it is estimated that 10% of the sales Will return. Company B’s returns and cash discounts are both on a net basis.

2. On February 10, 2021, Company B will receive 30% of the account within the discount period, including the return of $300 of sales. The rest of the account has passed The discount period has not yet been recovered.

3. On February 15, 2021, Company A sold the accounts receivable of $2,000 without recourse, and the handling fee was 3% of the sale amount, and Reserve 5% of the sales account as adjustments such as returns. On February 28th, Company B was notified that the accounts would be recovered $1,900, and the sales would be returned $100

4. On March 1, 2021, Company B will mortgage the accounts receivable of $1,000 for two months, the amount is $800, the interest rate is 6%, and the mortgage will be paid 1% of the account is a handling fee.

5. On March 31, 2021, Company B repaid the bank's mortgage loan on March 1 with a collection of $750 plus interest.

6. Company B had a balance of $750 in accounts receivable on March 31, of which it is estimated that 6% would not be collected. The bad debt balance was $25 before adjustment on that day.