BE8-5 DO ITI Exercises 407 Byrd Co. uses the percentage-of receivables basis to record bad debt expense and Prepare ematry asing percemage conclud retudes that 2% of accounts receivable will become uncollectible. Accounts receivable $400,000 a balanc00 at the end of the year, and the allowance for doubtful accounts has a credit 1 of receivables method of $2,800. 2 re t he adjusting journal entry to record bad debt expense for the year. nce for doubtful accounts had a debit balance of $900 instead of a credit of $2,800, prepare the adjusting journal entry for bad debt expense. BE8-6 Consider these transactions: (a) Tastee Prepare entries for credit card Restaurant accepted a Visa card in payment of a $200 lunch bill. The bank sale and sale of accouents charges a 3% fee. What entry should Tastee make? artin Company sold its accounts receivable of $65,000. What entry should Martin (0 2), AP make, given a service charge of 3% onthe amount ofreceivables sold? BE8-7 Compute interest and find the maturity date for the following notes. Compute interest and determine maturity dates on notes. Date of (a) June 10 (c) April 27 Interest Note Principal $80,000 $50,000 $12,000 Terms 60 days 90 days 75 days Rate (%) (b) July 14 8% Presented below are data on three promissory notes. Determine the missing amounts. Deternine maturity dates and. Total Compute interest and rates on Date of Note Maturity Date Principal Interest Rate Interest otes. (L03), AP (a) April1 (b) July 2 (c) March 7 Terms 60 days 30 days 6months $600,000 90,000 120,000 $600 10% BE8-9 On January 10, 2017, Masterson Co. sold merchandise on account to Tompkins for Prepare entry for note receivabl $8,000, terms n/30. On February 9, Tompkins gave Masterson Co. a 7% promissory note in exchanged for accounts settlement of this account. Prepar of the accounts receivable. (Omit cost of goods sold entries.) receivable. (LO 3), AP e the journal entry to record the sale and the settlement Prepare entry for estimated uncollectibles and classific rntions Fertig Company had credit sales of $3,000,000, r estimates that