Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Assume Red Hat uses 1/4 of 1 percent of revenue to estimate its bad debt expense for the year. Prepare the adjusting journal entry required at February 29 for recording Bad Debt Expense. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet cord the entry for bad debt expenses under the percentage of credit sales method. Nu General Journal Det Credit Date Foto 29 Record entry Clwenty View general Journal Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Assume instead that Red Hat uses the aging of accounts receivable method and estimates that $1,003,000 of Accounts Receivable will be uncollectible. Prepare the adjusting journal entry required at February 29 for recording bad debt expense. TIP: The aging of accounts receivable method focuses on calculating what the adjusted Allowance for Doubtful Accounts balance should be. You need to consider the the first account field.) existing balance when determining the adjustment. (tf no entry is required for a transaction/event, select "Na Journal Entry Required" In Show less View transaction lit Journal entry worksheet Record the entry for bad debt expenses under the aging of accounts receivable method Nowoce Date General Debt Credit Record entry Charenty Viewwal journal Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Assume that the unadjusted balance in Red Hat's Allowance for Doubtful Accounts at February 29 was a debit balance of $2,250,000. Red Hat uses the aging of accounts receivable method and estimates that $950,000 of Accounts Receivable will be uncollectible. Prepare the adjusting journal entry required at February 29 for recording bad debt expense. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) Show less View transaction lit Journal entry worksheet 1 Record the adjusting entry for bad debts as of February 29, using the aging of accounts receivable method, Notente debit before credits General ournal Lot Credit Date February 29 Record entry Clear entry View general journal Required 1 Required 2 Required 3 Required 4 Assume instead that Red Hat uses the aging of accounts receivable method and estimates that $1,003,000 of Accounts Receivable will be uncollectible. Prepare the adjusting journal entry required at February 29 for recording bad debt expense. TIP: The aging of accounts receivable method focuses on calculating what the adjusted Allowance for Doubtful Accounts balance should be. You need to consider the existing balance when determining the adjustment (if no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) Show less View transaction list Journal entry worksheet Record the entry for bad debt expenses under the aging of accounts receivable method. Notar inte debits before credits General Journal Date February 20 Debit Credit Record entry Clear entry View general Journal Required 1 Required 3 > Required 1 Required 2 Required 3 Required 4 Assume that the unadjusted balance in Red Hat's Allowance for Doubtful Accounts at February 29 was a debit balance of $2,250,000. Red Hat uses the aging of accounts receivable method and estimates that $950,000 of Accounts Receivable will be uncollectible. Prepare the adjusting journal entry required at February 29 for recording bad debt expense. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) Show less View transaction list Journal entry worksheet Required 1 Required 2 Required 3 Required 4 If one of Red Hat's customers dedared bankruptcy, what journal entry would be used to write off its $11,000,000 balance? (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) View transaction list Journal entry worksheet A Red the write-off of a $11,000,000 customer account, which is not collectible due to bankruptcy. Totes Enter debits before credits Transaction General Journal Debit Credit Record entry Clear entry View general journal