Current Attempt in Progress The following are a series of unrelated situations, Answer the questions relating to each of the five independent situations as requested. 1. Blue Company's unadjusted trial balance at December 31, 2020, included the following accounts. Credit Accounts receivable Allowance for doubtful accounts Net sales Debit $50,300 5,300 $1.229.400 Blue Company estimates uncollectible accounts will be 5% of gross accounts receivable. Determine its bad debt expense for 2020. Bad debt expense for 2020 $ 2. An analysis and aging of Kingbird Corp. accounts receivable at December 31, 2020, disclosed the following Amounts estimated to be uncollectible $ 180,530 Accounts receivable 1.762,300 Allowance for doubtful accounts (per books) 125.470 What is the net amount expected to be collected of Kingbird's receivables at December 31, 2020? Net realizable value $ 3. Oriole Co provides for doubtful accounts based on 3% of gross accounts receivable. The following data are available for 2020 Credit sales during 2020 $1,746,600 Bad debt expense 58.920 Allowance for doubtful accounts 1/1/20 Collection of accounts written off in prior years (customer credit was reestablished 8.430 Customer accounts written off as uncollectible during 2020 32220 17.720 What is the balance in Allowance for Doubtful Accounts at December 31, 20202 Allowance for doubtful accounts 12/31/20 3. Oriole Co provides for doubtful accounts based on 3% of gross accounts receivable. The following data are available for 2020. Credit sales during 2020 Bad debt expense Allowance for doubtful accounts 1/1/20 Collection of accounts written off in prior years (customer credit was reestablished) Customer accounts written off as uncollectible during 2020 $1.746,600 58.920 17.720 8.430 32.220 What is the balance in Allowance for Doubtful Accounts at December 31, 2020? Allowance for doubtful accounts 12/31/20 $ 4. At the end of its first year of operations, December 31, 2020, Waterway Inc. reported the following information. Accounts receivable, net of allowance for doubtful accounts Customer accounts written off as uncollectible during 2020 Bad debt expense for 2020 $921,600 24,690 84,000 What should be the balance in accounts receivable at December 31, 2020, before subtracting the allowance for doubtful accounts? Accounts receivable, before deducting allowance for doubtful accounts 5. The following accounts were taken from Wildhorse Inc's trial balance at December 31, 2020. Debit Credit $744,000 Net credit sales Allowance for doubtful accounts Accounts receivable $12.910 288,700 If doubtful accounts are 3% of accounts receivable, determine the bad debt expense to be reported for 2020. Bad debt expense, as adjusted