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can someone please help me with my accounting homework Part II The December 31, 2020 balance sheet of Sauder Company had Accounts Receivable of $500,000
can someone please help me with my accounting homework Part II The December 31, 2020 balance sheet of Sauder Company had Accounts Receivable of $500,000 and a credit balance in Allowance for Doubtful Accounts of $33,000. During 2021, the following transactions occurred: sales on account $1,200,000; sales returns and allowances, $50,000; collections from customers, S1,165,000; accounts written off $35,000: previously written off accounts of $5,000 were collected. Instructions (a) Journalize the 2021 transactions. (b) If the company uses the percentage-of-sales basis to estimate bad debts expense and anticipates 2% of net sales to be uncollectible, what is the adjusting entry at December 31, 2021? (e) If the company uses the aging-of-receivables basis to estimate bad debts expense and determines that uncollectible accounts are expected to be 4% of accounts receivable, what is the adjusting entry at December 31, 2021? Which basis would produce a higher net income for 2021 and by how much
can someone please help me with my accounting homework
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