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Can someone write the answers for the questions clearly? I dont understand which one is for which question. Thank you! At December 31, 2010, Lewis

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Can someone write the answers for the questions clearly? I dont understand which one is for which question. Thank you!

At December 31, 2010, Lewis Company reported the following information on its balance sheet Accounts receivable $960,000 Less: Allowance for doubtful accounts $80,000 In 2011, the company had the following transactions related to sales and receivable 1. Sales on account (credit sales) 2. Collections of Accounts receivable 3. Write offs of accounts receivable deemed uncollectible 4. Recovery of bad debts previously written off as uncollectible $ 24,000 $ 3,200,000 Ak.3, 2ng ous $ 3,500,000 Chee 3, su,"LD $ 90,000 Required . Prepare the journal entries necessary 2. Suppose the company estimates 10% of the accounts receivable balances will be uncollectible. What adjusting journal entry does the company need to make? What is its ending balance in the allowance account? Sno, oo 109-S9 3. Suppose instead, the company using the aging method for accounts receivable, and you are hou iU given the following estimated amounts Est. $ uncollectible e of Receivabl Less than 30 days 31-60 day:s 61-90 days Over 90 days Amount $400,000 $ 90,000 45,000 $ 35,000 2% 5% 1096 50% - 4sw - All What adjusting entry will the company need to make as of 12/31/11? 34 1 OLO 4. Assuming the company uses the aging method, what is the net realizable value of the accounts receivable at 12/31? ATR

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