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can you answer both of them and do it on paper, please. 2. Nelson Corporation has a balance in accounts receivable of $1,000,000 on December
can you answer both of them and do it on paper, please.
2. Nelson Corporation has a balance in accounts receivable of $1,000,000 on December 31, 2019. Nelson estimates 5% uncollectible. During 2020 Nelson writes off $40,000 in accounts receivable which were outstanding on December 31, 2019. On December 31, 2020, Nelson has a balance of $ 1,200,000 in accounts receivable. Nelson estimates 5% uncollectible. Required: Prepare the appropriate journal entries for 2019 and 2020 and post them to the ledger 3. Williams Corporation has credit sales of $3,000,000 in 2019. Williams estimates 1% uncollectible. During 2020 Williams writes off $35,000 in accounts receivable which were outstanding on December 31, 2019. Williams has $3,500,000 in credit sales in 2020. Williams estimates 1% uncollectible. Required: Prepare the appropriate journal entries for 2018 and 2020 and post them to the ledgerStep by Step Solution
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