CUMULATIVE REVIEW PROBLEM: CHAPTER 10 me that e purpose of this problem is to provide an opportunity to review both new concepts in the current dapter and major concepts in previous chapters. This cumulatice review should assist you t nuary 1 ng accounting concepts and preparing for exams months on ED: Answer each of the following eleven questions: e the following data for the next four questions: On December 31, 2011, accounts: the unadjusted trial balance of Alex Inc., included the following unadjuste Credit $900,000 Debit Sales (90% represent credit sales) Accounts Receivable 300,000 Allowance for Doubtful Accounts 300 1. Assume Alex estimates de bad tsonDecembeladdebts expense as 1% oferedit sales. Prepare the adj INSTEAD of #1, bts on December 31, sting entry for out Prepare sume Alex estimates bad debts expense as 3% of year-end gross accounts justing entry for bad debts on December 31, 2011 estima lare the ad answer in #2. Assume Alex accounts receivable 200 debts e December 31, 2011 balance sheet is: $ After the adjusterestimates bad debts expense as 3% ofyear-endgross Justing entry, the net realizable value of Alex's accounts