Complete this question by entering your answers in the tabs below. Prepare summary journal entries to account for the 2024 write-offs and the collection of the receivable previously written off. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Record collection of an account receivable previously written off. Note: Enter debits before creats. Complete this question by entering your answers in the tabs below. Prepare the year-end adjusting entry for bad debts according to each of the following situations: a. Bad debt expense is estimated to be 3% of credit sales for the year. b. Bad debt expense is estimated by adjusting the allowance for uncollectible accounts to the balance that reduces the carrying value of accounts recelvable to the amount of cash expected to be collected. The allowance for uncollectible accounts is estimated to be 10% of the year-end balance in accounts receivable. c. Bad debt expense is estimated by adjusting the allowance for uncollectible accounts to the balance that reduces the carrying value of accounts recelvable to the amount of cash expected to be collected. The allowance for uncollectible accounts is determined by an aging of accounts recelvable, Note: If no entry is required for a transaction/event, select "No joumal entry required" in the first account field. Journal entry worksheet 3 Bad debt expense is estimated to be 3% of credit sales for the year. Note: Chter debits before credits. Complete this question by entering your answers in the tabs below. For situations (a)-(c) in requirement 2 above, what would be the net amount of accounts receivable reported in the 2024 balance sheet? Complete this question by entering your answers in the tabe below. Preose the year end adjusting entry for bad debts according to each of the following aituations: a. dad debt expense is estimated to be 3% of credit sales for the vear. b. Nad debt expense is extimated by adfusting the allowance for uncollectible acrounts to the balance that reduces the carrying value of acrounts receivable to the amount of cash expected to be collected. The allowance for uncollectible accounts is estimated to be 10% of the ywarend balance in accounts receivable. c. Rad debt expense is estimated by adjusting the allewance for uncollectible accounts to the balance that reduces the carrying value of acrounts receivable to the amount of cash expected to be collected. The allowance for uncollectible accounts is determined by an aging of accounts recelvable. Note: If no entry is required for a trapsactionvevent, select "No joumal entry required" in the fint account field. Journal entry worksheet 3 Bad debt expense is estimated by adjusting the allowance for uncollectible accounts to the balance thet reduces the carrying value of accounts receivable to the amount of cash expected to be collected. The allowance for uncollectible accounts is estimated to be 1096 of the yearend balance in accounts Note: Euter debits before creatits. Raintree Cosmetic Company sells its products to customers on a credit basis. An adjusting entry for bad debt expense is recorded only at December 31 , the company's fiscal year-end. The 2023 balance sheot disclosed the following: Current assets: Receivables, net of atlowance for uncollectible accounts of 538,0005472,008 During 2024, credit sales were $1,790,000, cash collections from customers $1,870,000, and $43,000 in accounts recelvable were written off. In addition, $3,800 was collected from a customer whose account was written off in 2023, An aging of accounts recelvable at December 31,2024 , reveals the following: Required: 1. Prepare summary joumal entries to account for the 2024 write-offs and the collection of the receivable previously written off. 2. Prepare the year-end adjusting entry for bad debts according to each of the following situations: a. Bad debt expense is estimated to be 3% of credit sales for the year. b. Bad debt expense is estimated by adjusting the allowance for uncollectible accounts to the balance that reduces the carrying value of accounts recelvable to the amount of cash expected to be collected. The allowance for uncollectlble accounts is estimated to be 10% of the year-end balance in accounts recelvable. c. Bad debt expense is estimated by adjusting the allowance for uncollectible accounts to the balance that reduces the carrying value of accounts recelvable to the amount of cash expected to be collected. The alloveance for uncollectible accounts is determined by an aging of accounts recelvable. 3. For situations (a)-(c) in requirement 2 above, what would be the net amount of accounts receivable reported in the 2024 balance sheet? Compiete thie atestion by soterino your anewers in the tabs betow. Journal entry worksheet Record accounts recelvable written off during the year 2024 Nate Eater betus before siedich Complete this question by entering your answers in the tabs below. Prepore summary joumal entries to account for the 2024 write-offs and the collection of the receivable previously written off. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Record entry to reinstate an accoubt receivable previously written off. Note: Enter debits before credta. Complete this question by entering your answers in the tabs below. Prepare the year-end adjusting entry for bad debts according to each of the following situations: a. Bad debt expense is estimated to be 3% of credit sales for the year. b. Bad debt expense is estimated by adjusting the allowance for uncollectible accounts to the balance that reduces the carrying value of accounts receivable to the amount of cash expected to be collected. The allowance for uncollectible accounts is estimated to be 10% of the year-end balance in accounts recelvable. c. Bad debt expense is estimated by adjusting the allowance for uncollectible accounts to the balance that reduces the carrying value of accounts receivable to the amount of cash expected to be collected. The allowance for uncollectible accounts is determined by an aging of accounts recelvable. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Bad debt expense is estimated by adjusting the allowance for uncollectible accounts to the balance that reduces the carrying value of accounts receivable to the amount of cash expected to be collected. The allowance for uncollectible accounts is determined by an aging of accounts receivable. Note: Enter debits before credits