Chipman Sofware recently reported the following amounts in its unadjusted trial balance at its year-endi 5. Credits Debits $ 3,400 Accounts Receivable Allowance for Doubtful Accounts Sales (assume all on credit) $ 35 48,000 22 points cBook Print Required: 1. Prepare the adjusting Journal entry required for the year. Assume Chipman uses 3/4 of 1 percent of sales to estimate its Bad Debt Expense for the year and no Bad Debt Expense has been recorded yet 2. Prepare the adjusting journal entry required for the year . Assume instead that Chipman uses the aging of accounts receivable method and estimates that $84 of its Accounts Receivable will be uncollectible, 3. Assume Instead that Chipman uses the aging of accounts receivable method and estimates that $84 of its Accounts Receivable will be uncollectible. Prepare the year-end adjusting Journal entry for recording Bad Debt Expense Assume Chipman's year-end unadjusted balance in Allowance for Doubtful Accounts was a debit balance of $24 4. If one of Chipman's main customers declared bankruptcy after year end, what journal entry would be used to write off its $20 balance? Heference Complete this question by entering your answers in the tabs below. Required 1 Required2 Required Required 4 Prepare the adjusting journal entry required for the year. Assume Chipman uses 3/4 of 1 percent of sales to estimate its Bad De Expense for the year and no Bad Debt Expense has been recorded yet. (If no entry is required for a transaction/event, select " Entry Required in the first account field Round your final answer to the nearest whole dollar) he Complete this question by entering your answers in the tabs below. 5 Required 1 Required 2 Required 3 Required 4 22 points Prepare the adjusting Journal entry required for the year. Assume Chipman uses 3/4 of 1 percent of sales to estimate its Bad Expense for the year and no Bad Debt Expense has been recorded yet. (If no entry is required for a transaction/event, select " Entry Required" in the first account field. Round your final answer to the nearest whole dollar) She egook Print View transaction list References Journal entry worksheet > Record the entry for bod debt expenses under the percentage of credit sales method Note: Enter debits before credits Transaction General Journal Debit Credit Complete this question by entering your answers in the tabs below. 5 Required 1 Required 2 Required 3 Required 4 Prepare the adjusting journal entry required for the year. Assume instead that Chipman uses the aging of accounts receivablen and estimates that $84 of its Accounts Receivable will be uncollectible. (If no entry is required for a transaction/event, select " Entry Required" in the first account field.) 22 points View transaction list BOOK Print References Journal entry worksheet Record the entry for bad debt expenses under the aging of accounts receivable method. Note: Enter debits before credits Transaction General Journal Debit Credit Complete this question by entering your answers in the tabs below. 5 22 Doints Required 1 Required 2 Required 3 Required 4 Assume instead that Chipman uses the aging of accounts receivable method and estimates that $84 of its Accounts Receivable uncollectible. Prepare the year end adjusting journal entry for recording Bad Debt Expense. Assume Chipman's year-end unadji balance in Allowance for Doubtful Accounts was a debit balance of $24. (If no entry isrequired for a transaction/event, select " Entry Required in the first account field) She eBOOK Print View transaction list References Journal entry worksheet Record the adjusting entry for bad debts, using the aging of accounts receivable method. Note: Enter debits before credits Debit General Journal Transaction Credit Complete this question by entering your answers in the tabs below. 5 Required 1 Required 2 Required 3 Required 4 2 oints If one of Chipman's main customers declared bankruptcy after year-end, what journal entry would be used to write off its (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) View transaction list eBook Paint Journal entry worksheet References A Record the write-off certain customer account which is not collectible due to bankruptcy declared by the customer totaling $20. Note: Enter debits before credits Transaction General Journal Debit Credit 1
