E5.5 The cash register tapes of a business showed cash receipts from sales for the day of $8,477. However, the total cash in the cash registers from cash receipts from sales for the day totaled $8,460. Prepare a journal to adjust for the difference. E5.6 A company that uses the allowance method (balance sheet approach) has determined that the estimated portion of it accounts receivable that are uncollectible amounts to $40,000. Make the required entry to record bad debt expense under each of the following assumptions: a) The unadjusted balance in the allowance for uncollectible accounts is a debit balance of $3,000 b) The unadjusted balance in the allowance for uncollectible accounts is a credit balance of $4,000. E5.7 ABC Co. sold $70,000 worth of accounts receivable to a factor with no recourse. The factor charges a 4% factoring fee. Record the journal on ABC Co.'s books for the sale of its accounts receivable to the factor E5,8 At the end of the year, Linton Co. estimates bad debt expenses at 1% of net credit sales for the year of $2,300,000. Prepare the entry to record bad debt expense assuming the unadjusted balance in the allowance for uncollectible accounts is a $6,000 credit. hay Aa