BUS 20100 Graded Homework \# $5 Fall Semeter 2022 Record the following transactions indicating account type (A - asset, C - A - contra-asset, L - liability, R - revenue, E = expense), direction ( + for increase, - for decrease), accounts titles, and dollar amounts debited and eredited. Example: Wilson Company sold $20,000 of merchandise on account (note that debit is first and credit is indented). \begin{tabular}{|c|c|c|r|r|} \hline \multicolumn{1}{|c}{ Account Type } & Direction & Account Titles & Debit & Credit \\ \hline A & + & Accounts Receivable & 20,000 & \\ \hlineR & + & Sales & & 20,000 \\ \hline \end{tabular} Transaction 1: Wilson Company wrote off $1,080 owed by a customer as a bad debt. \begin{tabular}{|l|l|l|l|l|} \hline Account Type & \multicolumn{1}{c}{ Direction } & Account Titles & Debit & \\ \hline & & & & \\ \hline & & & & \\ \hline \end{tabular} Transaction 2i. At the end of the year, Wilson Company estimates that bad debts will be 2% of the current balance in accounts receivable. Before the adjusting entry, the Accounts Receivable account has a \$55,000 debit balance and the Allowance for Doubtful Accounts account has a $75 debit balance. \begin{tabular}{|l|l|l|l|l|} \hline \multicolumn{1}{|c|}{ Account Type Direction \multicolumn{1}{c|}{ Account Titles }} & \multicolumn{2}{c|}{ Debit } & \\ \hline & & & & \\ \hline & & & & \\ \hline \end{tabular} Show calculation for number used in the above entry here