B&H Corporation was formed in 2015 with the merger of Freeman Good Foods and Boyd Companies. The company reported the following rounded amounts for the year ended December 29, 2018 (all amounts in millions): Debits Credits Accounts Receivable Allowance for Doubtful Accounts $ 1,190 $ 40 Sales (assume all on credit) 19,000 Required: 1. Assume B&H uses 1/4 of 1 percent of sales to estimate its Bad Debt Expense for the year. Prepare the adjusting journal entry required for the year, assuming no Bad Debt Expense has been recorded yet. 2. Assume instead B&H uses the aging of accounts receivable method and estimates that $87 of its Accounts Receivable will be uncollectible. Prepare the adjusting journal entry required at December 29, 2018, for recording Bad Debt Expense. 3. Assume instead B&H's uses the aging of accounts receivable method and estimates that $87 of its Accounts Receivable will be uncollectible. Prepare the adjusting journal entry required at December 29, 2018, for recording Bad Debt Expense assuming B&H's unadjusted balance in Allowance for Doubtful Accounts at December 29, 2018, was a debit balance of $27. 4. If one of B&H's customers declared bankruptcy, what journal entry would be used to write off its $15 balance? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Assume B&H uses 1/4 of 1 percent of sales to estimate its Bad Debt Expense for the year. Prepare the adjusting journal entry required for the year, assuming no Bad Debt Expense has been recorded yet. (If no entry is required for a transaction/event, select "No Journal 10.000.000 should be entered as 10). Round your answers Check my w Required: Required 2 Required 3 Required 4 Assume 38 uses 1/4 of 1 percent of sales to estimate its Bad Debt Expense for the year. Prepare the adjusting your entry required for the year, assuming no Bad Debt Expense has been recorded yet. (tf no entry is required for a transaction/event, select "No Journal Entry Required in the first account field. Enter your answers in millions ( 10,000,000 should be entered as 10). Round your answers to the nearest whole number.) Show less View transaction et Journal entry worksheet > Record the entry for bad debt expenses under the percentage of credit sales method Note: Enter denes before credits Date General Journal Dabet Credit December 29, 2018 Required 1 Required 2 Required 3 Required 4 Assume instead B&H uses the aging of accounts receivable method and estimates that $87 of its Accounts Receivable will be uncollectible. Prepare the adjusting Journal entry required at December 29, 2018, for recording Bad Debt Expense. (If no entry's required for a transaction/event, select "No Journal Entry Required in the first account field. Enter your answers in milions (ie. 10,000,000 should be entered as 10). Round your answers to the nearest whole number.) Show less View transaction let Journal entry worksheet Record the write-off of a certain customer account totaling $15 which is not collectible due to bankruptcy declared by the customer Note: Enter debits before credits Debit General Journal Transaction Credit
