does anyone have lab project 7?

Project: Bad Det Expense Credits Debits 52,898 12,250 0 20,390 650 320 30,550 12,250 0 62.128 275 Fido's Food Mart Adjusted Trial Balance December 31, 20XX Account Title Cash Accounts Receivable Less: Allowance for Doubtful Accounts Inventory Supplies Prepaid Insurance Equipment Vehicle Less: Accumulated Depreciation - Equipment & Vehicle Accounts Payable Uncarned Revenue (Gift Cards) Bonds Payable (mature 12/31/XX) Common Stock (200 shares @ $210/share, par $210) Retained Earnings Sales Revenue Less: Sales Discount Cost of Goods Sold Operating Expenses Bad Debt Expense Depreciation Expense Insurance Expense Rent Expense Supplies Expense Wages Expense Totals 12,000 42,000 0 134,725 40 64,330 34,840 0 0 160 5,750 1,200 15,500 $251,128 $251,128 39 Project 7: Bad Debt Expense Since the first month of operations, Fido's Food Mart extended credit to several locul veterinary clinics. As of the end of the year, $2,000 is realized as a direct write-off. Additionally, of the $134,725 total sales for the year $62,981 were credit sales. At this time, Fido's Food Mart wants to begin forecasting the uncollectible amount and plans to use the pecentage of sales method. Research shows that 2 percent of credit sales become uncollectible. Required: (round all answers to the nearest dollar amount) 1. Record the adjusting journal entry to directly write-off the $2,000 of actual bad debt through December a. Show the balancing effects on the accounting equation b. Record the adjusting journal entry in two-line format using a debit and a credit. c. Show T-accounts with beginning balances, transactions, and end balances, 2. Using the information and adjusted trial balance above, calculate the amount forecasted to be uncollectible next quarter based on the total sales to date at Fido's Food Mart. Record the adjusting journal entry for the forecasted amount of uncollectibles. a. Show the balancing effects on the accounting equation b. Record the adjusting journal entry in two-line format using a debit and a credit. c. Show T-accounts with beginning balances, transactions, and end balances. 3. Prepare a new adjusted trial balance and highlight the accounts and amounts changed. Bacho/Shutterstock.com